111515-1927-Supplementary-Bills-read-a-first-time--Public-Health-and-Buildings-Amendment — Page 9

Powers of corporation.

Vesting of properties.

Execution of documents,

internal

276

(4) Any such notice shall be signed by two of the contiuning or retiring directors and sealed with the common seal of the corporation.

4.-(1) Subject to the provisions of sub-section (2), the corporation shall have power to acquire, accept leases of, purchase, take, hold and enjoy any lands, buildings messuages or tenements of what nature or kind soever and wheresoever situated, and also to invest moneys upon mortgage of any lands, buildings, messuages or tenements, or upon the mortgages, deben- tures, stocks, funds, shares or securities of any corper- ation or company, and also to purchase, acquire and possess any goods and chartels of what nature and kind soever.

(2) Notwithstanding the provisions of sub-section (1). the

corporation shall not acquire any immovable property in the Colony unless it shall have previously obtained the special consent of the Governor in Council in each case,

(3) The corporation shall further have power by deed under its seal to grant, sell, convey, assign, surrender, exchange, partition, yield up, mortgage, demise, re-assign, transfer, or otherwise dispose of any lands, buildings, messuages, tenements, mortgages, d-bentures, stocks, funds, shares or securities, or any goods and chattels whatsoever, which are for the time being vested in or belonging to the corporation upon such terms as to the corporation may seem fit.

5. The pieces or parcels of ground respectively registered in the Land Office at Victoria in this Colony as Inland Lots Nos. 1378 and 1879 and Section C of Inland Lot No. 1460 together with all rights privileges and appurtenances respectively belonging or appertain- ing thereto or therewith usually held occupied and enjoyed are hereby transferred to and vested in the corporation subject to the payment of the rents and the performance of the covenants and conditions reserved by and contained in the respective Crown leases thereof.

6. All deeds and other instruments requiring the corporate seal of the corporation shall be sealed in the presence of two of the directors and shall be signed by two of the directors.

7. All matters of interual management, including management. any amendment of the constitution, shall be settled and

carried out in accordance with the constitution.

Saving of rights of the

Crown and of certai

other rights.

8. Nothing in this Ordinance shall affect or he deemed to affect the rights of His Majesty the King. His Heirs or Successors, or the rights of any body politic or corporate or of any other person except such as are mentioned in this Ordinance and those claiming by, from or under them.

Objects and Reasons,

1. The object of this bill is to incorporate the Directors of the Japanese Residents Association of Hong Kong in order to enable them to hold immovable property in perpetual succession. The advantages of incorporation are obvious. The bill follows the general form of incorporation Ordinances,