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been acquired by the Company, and to make payments towards insurance, and to subscribe or guarantee money for charitable or benevolent objects, or for any ex- hibition, or for any public, general or useful object. (11) To promote any company or companies for the pur- pose of acquiring all or any of the property, tights and liabilities of this Company, or for any other purpose which may seem directly or indirectly calculated to benefit this Company.

(12) Generally to purchase, take on lease or in exchange, hire or otherwise acquire, any real and personal property, and any rights or privileges which the Company may think necessary or convenient for the purposes of its business, and in particular any land, buildings, easements, machinery, plant, and stock-in- trade.

(13) To construct, improve, maintain, develop, alter, work, manage, carry out, or control any roads, ways, tramways, railways, branches, or sidings, bridges, reservoirs, watercourses, wharves, factories, machin- eries, warehouses, electric works, shops, stores, buildings, and other works and conveniences which may seem calculated directly or indirectly to advance the Company's interests, and to contribute to, subsidize, or otherwise assist or take part in the construction, improvement, maintenance, development, alteration, working, management, carrying out or control thereof. (14) To invest and deal with the moneys of the Company not immediately required either by purchase of a loan upon real and personal property (including chattels real) stocks shares (whether such stocks and shares are fully or partly paid up and whether they are subject to any liability or not or securities or in such manner as may from time to time be determined.

(15) To lend money to such persons and on such terms as may seem expedient, and in particular to customers and others having dealings with the Company, and to guarantee the performance of contracts by such persons. (16) To borrow or raise or secure the payment of money in such manner as the Company shall think fit, and in particular by the issue of debentures, or debenture

stock, perpetual or otherwise, charged upon all or any of the Company's property (both present and future), including its uncalled capital, and to purchase redeem or pay off any such security,

(17) To remunerate any person or company for services rendered, or to be rendered. in placing or assisting to place or guaranteeing the placing of any of the shares in the Company's capital or any debentures or other securities of the Company, or in or about the formation or promotion of the Company or the conduct of its business.

(18) To draw, make, accept, indorse, discount, execute and issue promissory notes, bills of exchange, bills of lading, warrants, debentures, and other negotiable or transferable instruments.

(19) To sell or dispose of the undertaking of the Company or any part thereof for such consideration as the Company may think fit, and in particular for shares, (whether fully or partly paid up) in or debentures or securities of any other company having objects altogether or in part similar to those of this Company. (20) To adopt such means of making known the business or products of the Company as may seem expedient and in particular by advertising in the press, by circulars, by purchase and exhibition of works of art or interest by publication of books and periodicals, and by granting prizes, rewards, and donations.

(21) To obtain any order, ordinance, order in council, charter, or Act of Parliament for enabling the Company to carry any of its objects into effect or for effecting any modification of the Company's constitution or for any other purpose which may seem expedient, and to oppose any proceedings or applications which may seem calculated, directly or indirectly, to prejudice the Company's interests.

(22) To procure the Company to be registered or recognized

in any country or place.

(23) To sell improve, manage, develop, lease, exchange, mortgage, enfranchise, dispose of, turn to account, or otherwise deal with, all or any part of the property and rights of the Company.

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