 A prospectus was issued on 22 May 1844; the capital of the company was to be £1,500,000, and negotiations were in hand to lease the line on completion to the Great Western Railway.In fact this was provisionally agreed in September; the lease term was to be 999 years; the GWR would pay a rent of 3.5% on the capital plus 50% of the profits.The necessary Bill incorporating the company went to the 1845 session of Parliament, and received the Royal Assent on 4 August 1845.