161. (1) The company may build an electric telegraph line and a telephone line in connection with its railway; and, for the purpose of building, working and protecting the said telegraph and telephone lines, the powers vested in telegraph companies by the Telegraph and Telephone Companies Act (chapter C-45), are vested in the company; provided that no poles shall be erected in the building of either of the said lines in or through any city, town or village, without the consent of the council of such city, town or village being first obtained by the company; provided also that such telegraph and telephone lines may be used by the public generally, in conformity with the rules and regulations which the company may adopt.
(2) The company may enter into a contract with any person or association of persons for the building or equipment of the railway or any part thereof, including or excluding the purchase of the land required for the roadbed; but no such contract shall be of any force or validity until sanctioned by a resolution passed by shareholders holding two-thirds in value of the capital stock of the company, at a special general meeting called for considering the same.