owner's risk. conditions, and the difference in the company's liability under the two sets of conditions in respect of the merchandise in question is not insignificant, the company shall, on request in writing by a trader, quote a corresponding rate under the other conditions, and, if within twenty-eight days from such request the company fails to quote such a rate to ' the satisfaction of the trader, the trader may apply to the rates tribunal, and the tribunal shall settle such corresponding rate and determine the date as from which it is to come into operation.
(3) The difference between an ordinary rate and an owner's risk rate shall be such as in the opinion of the rates tribunal is fairly equivalent to the amount by which the risk of the company in the case of the merchandise in question differs under the two sets of conditions.
(4) A railway company shall be under no obligation to carry livestock at owner's risk rates in cases in which livestock is not at the date of. the passing of this Act carried at reduced rates under owner's risk conditions.
Through rates and fares.
47.—(1) Where on or after the appointed day in pursuance of section twenty five of the Railway and Canal Traffic Act, 1888, a railway company or person requires traffic to be forwarded at through rates or fares the company or person shall give written notice of the proposed through rate or fare to each company owning any part of the through route (hereinafter called " the forwarding company ") stating both its amount and the route by which the traffic is proposed to be forwarded, and, where a company gives such notice, it shall also state the apportionment of the through rate or fare.
Each forwarding company shall, within ten days or such longer period as the rates tribunal prescribe after the receipt' of such notice, by written notice inform the company or person requiring the through rate or fare whether it agrees to the rate or fare and the route, and, if it objects to either, the grounds of the objection.
(2) The rate or fare shall come into operation at the expiration of the said. ten days or other prescribed period:
Provided that, if before that expiration any such objection as aforesaid has been sent, or if, in the case of a rate, the rate is less than five per cent. or more than forty per cent: below the combined standard charges of all the forwarding companies, the matter shall be referred to the rates tribunal for their decision.
