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advances with a view to conducting it in the manner least likely to prejudice the Bank's interest in connection
therewith. If the words "deal with" in the 1st line of subsection (6) be insufficient for the purpose, it would appear to the Board that suitable adaptation of this
subsection, e.g. so as to read "to hold, improve, undertake, realise and deal with as may seem expedient, any business
or property to which the Bank may become entitled by foreclosure or otherwise etc." might express sufficiently
the purposes for which the Board's powers are declared by
the Chief Manager to be wanted. The proposed substitute for
subsection 4 of Clause 3 appears to the Board to be largely a
duplication of other provisions of the Regulations, inasmuch as
it refers to "any business which the Bank is authorised to carry
on". The further reference to "property suitable for the
purposes of this Bank" would appear not to be essential if
the 11th subsection is retained as drafted. That subsection
confers upon the Bank power to acquire real and personal
property of any kind in any place, and therefore appears to
the Board to cover the latter part of the proposed substitution
for subsection (4). Bearing in mind the restrictions with
reference to the acquisition of real property contained in the Canadian Bank Charter Acts, the powers of subsection (11)
do not appear to be unduly restricted and to require
strengthening by the proposed new subsection (4).
3.
With reference to the 5th subsection of Regulation 3,
the omission of all the words following "exchange brokers"
would appear to the Board to leave in the Regulation an
enumeration of branches of business appropriate to the Bank
sufficiently