CO129-520-7 Public Utility companies- acquisition by foreign groups 4-12-1929 - 26-1-1930 — Page 87

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To lend

money.

To enter into contracts.

Custody of Seal.

Cheques.

Execution

of deeds by attorney.

54

(22) They may lend, advance money, and act as agents for any loan and may furnish and provide deposits and guarantee funds and subscribe for and deal in stocks, shares, bonds, mortgages, obligations and securities in the manner mentioned in the memoran- dum of association.

(23) To enter into all such negotiations and con- tract, and rescind and vary all such contracts, and execute and do all such acts, deeds, and things in the name and on behalf of the Company as they may consider expedient for or in relation to any of the matters aforesaid, or otherwise howsoever for the purpose of the Company.

General Management and use of the Seal.

154. The Board shall provide for the safe custody of the Seal, and the Seal shall never be used except by the authority of the Board previously given, and two members of the Board and the Agents or other person appointed by the Board shall sign every instrument to which the Seal is affixed. Every instrument executed in manner provided by this Article shall be deemed to be sealed and executed with the authority of the Direc- tors previously given.

155. The Signatures of two Directors and the Agents or other person appointed by the Board shall be necessary to all Cheques, Promissory Notes and Accept- ances drawn for any purpose on the funds of the Company.

156. The Company may, by writing under its seal, empower any person, either generally or in respect of any specified matters, as its attorney, to execute deeds and instruments on its behalf and to enter into contracts and sign the same on its behalf in any place not situate within the Colony and every deed signed by such attorney on behalf of the Company, and under his seal, shall bind the Company, and have the same effect as if it were under the Seal of the Company.