CO129-520-7 Public Utility companies- acquisition by foreign groups 4-12-1929 - 26-1-1930 — Page 136

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To give bills of exchange,

etc.

To appoint attorneys.

To employ agents.

To invest money's.

To give security by way of indemnity.

To give per- centages.

(i) To make, give, accept, indorse, transfer, dis- count and negotiate such Bills of Exchange, Promissory Notes, cheques or other similar obligations and all documents not requiring the seal of the Company which may be neces- sary for the carrying on of the business of the Company. And to determine who shall be entitled to sign the same on the Company's behalf.

(j) From time to time to provide for the manage- ment of the affairs of the Company abroad in such manner as they think fit, and in particular to appoint any persons to be the Attorneys or Agents of the Company with such powers (including power to sub-delegate) and upon such terms as thought fit. (k) To employ such agents or brokers and other persons as they may think necessary for fur- thering the interests of the Company, and pay them such salaries, commissions or other re- muneration as they deem reasonable.

(4) To invest, lend or otherwise deal with any of the moneys of the Company not immedi- ately required for the purposes thereof, upon such securities and investments (not being shares in this Company) and iu such manner as they may think fit, and from time to time to vary or realise such securities and invest-

ments.

(m) To execute in the name and on behalf of the Company in favour of any Director or other person who may incur or be about to incur any personal liability for the benefit of the Company, such mortgages of the Company's property (present or future) as they think fit, and any such mortgage may contain a power of sale and such other powers, covenants and provisions as shall be agreed upon.

(n) To give to any person employed by the Company a commission on the profits of any particular business or transaction, or a share in the general profits of the Company, and such commission or share of profits shall be treated as part of the working expenses of the Company.

33

Reserve

(9) Before declaring any dividend, to set aside, To establish out of the profits of the Company, such sums Fund. as they think proper as a Reserve Fund to meet contingencies, or for equalising divi- dends, or for special dividends, or for repair- ing, improving, increasing and maintaining any of the property of the Company, and for such purposes as the Directors shall in their absolute discretion think conducive to the interests of the Company; and to invest the several sums so set aside upon such invest- ments (other than shares of the Company) as they may think fit, and from time to time to deal with and vary such investments and dispose of all or any part thereof for the benefit of the Company and to divide the Reserve Fund into such special funds as they think fit with full power to employ the assets constituting the Reserve Fund in the business of the Company without being bound to keep the same separate from the other assets.

Fund.

(p) To employ the Reserve Fund for the time Directors being or any portion thereof (and that whether may deal such fund or such portion as is proposed to be with Reserve dealt with was set aside for the special purpose to which it is proposed to be applied or for any other purpose or not) in or for all or any of the following purposes, that is to say, in meeting contingencies, in equalising divid- ends, in paying special dividends, in repairing, improving, increasing and maintaining any of the property of the Company, or otherwise in the business of the Company, and in or for such other purposes as the Directors shall in their discretion think conducive to the in- terests of the Company, and in regard to any such employment as aforesaid the Directors shall not be bound to keep the Reserve Fund separate from the other assets.

(9) From time to time to make, vary and repeal To make bye-laws for the regulation of the business of bye-laws, the Company, its officers and servants.

(r) To improve, manage, lease or let all or any To improve, part of the land, property, rights and privi- manage, etc. leges of the Company."

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