C122
Staff benefits.
Documents of Corporation.
MASS TRANSIT RAILWAY CORPORATION BILL
(5) The Corporation may make standing orders, not inconsistent with this Ordinance, regulating the work and conduct of its employees.
8.
(1) The Corporation may-
(a) grant, or make provision for the grant of, pensions, gratuities and
retirement benefits to its employees;
(b) provide other benefits for the welfare of its employees and their
dependants;
(c) make payments, whether ex gratia or legally due, to the personal representative of a deceased employee or to any person who was dependent on such employce at his death.
(2) The Corporation may establish, manage and control, or enter into an arrangement with any company or association for the establishment, management and control by such company or association either alone or jointly with the Corporation of, any fund or scheme for the purpose of providing for the pensions, gratuities, benefits and payments referred to in subsection (1).
(3) The Corporation may make contributions to any fund or scheme. referred to in subsection (2) and may require its employees to make contributions thereto.
(4) The Corporation may in exercise of its powers under section 6 supply living accommodation and household effects, for the occupation and use of employees and advisers of the Corporation and their families, at such rent and on such terms and conditions as it may determine.
(5) In this section "employees" includes any class of employee which the Corporation may specify and in subsection (1) includes former employees.
9. (1) The Corporation may make and execute all such documents as may be expedient for or conducive to the attainment of its purposes or of any purpose reasonably incidental to or consequential upon those purposes.
(2) Subject to this Ordinance, a document to be made by the Corporation shall be deemed to be duly executed-
(a) if sealed with the scal of the Corporation in the presence of a
member; or
(b) if signed on behalf of the
employee of the Corporation to do.
Corporation by a member or an authorized by the Corporation so
(3) Any document purporting to be executed in accordance with subsection (2) shall, unless the contrary is proved, be deemed to have been duly executed.
(4) Subject to this Ordinance, a document executed by the Corporation in accordance with subsection (2X) shall not be ineffectual in law by reason only of the fact that, apart from this subsection, it would be required by law to be executed under seal.
Capital of Corporaton.
PART III
FINANCIAL
10. (1) The authorized capital
capital of the Corporation shall be $2,000,000,000 divided into 20,000 shares of $100,000 each.