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Common
Forms.

The above form, with more or less variation, is sometimes used. It is obvious that if the company is to have such powers they ought to be conferred by the memorandum. See supra, p. 83.

TO INVEST, ETC.

14. To invest the monies of the company not immediately required upon such securities as may from time to time be determined.

The above is frequently inserted, though probably not necessary. As to what it does not authorise, see the Joint Stock Discount Co. v. Brown, 8 Eq. 381, cited supra, p. 107.

TO BUILD, ETC.

15. To construct, maintain, and alter any buildings, or works, necessary or convenient for the purposes of the company.

This is very commonly inserted. It is modified, more or less, to suit different companies.

TO RECEIVE MONEY ON DEPOSIT.

16. To receive money on deposit at interest or otherwise.

This power is generally taken by investment and loan companies and by Co-operative Stores. It is also very commonly expressly taken by banking, discount, and financial companies. A company which takes it would appear to be a "deposit company" within Section 44 of the Act, and therefore bound to make the annual statement of assets and liabilities, &c., thereby required.

TO SELL, ETC.

17. To sell, improve, manage, develop, lease, mortgage, dispose of, or otherwise deal with, all or any part of the property of the company.

This is almost always inserted, and invests the company with ample powers of dealing with its property. See in re Patent File Co., 6 Ch. 88.

GENERAL WORDS.

18. To do all such other things as are incidental or conducive to the attainment of the above objects.

As to this, see supra, p. 84, et seq.

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Objects. the neighbourhood thereof, with water, and to carry on the business of a Waterworks company in all its branches.

2. To purchase, take on lease, hire, or otherwise acquire, any real and personal property necessary or convenient for the purposes of the company, and, in particular, any lands, buildings, machinery, plant, patents, waters, wells, streams, rights, and easements.

3. To sink wells and shafts, and to make, build, and construct, lay down, and maintain reservoirs, waterworks, cisterns, culverts, filter-beds, main and other pipes and appliances, and to execute and do all other works and things necessary or convenient for obtaining, storing, selling, delivering, measuring, and distributing water, or otherwise for the purposes of the company.

4. To obtain from the Board of Trade any provisional order for enabling the company to carry its objects into effect.

A Waterworks company requires statutory powers. These can be obtained by Special Act, or, in many cases, by provisional order of the Board of Trade, under the "Gas and Water Facilities Act, 1870," and the "Amendment Act of 1873." Such provisional orders are made in considerable numbers every year. For extracts from the Acts, specimen order, and rules of Board of Trade as to applications, see infra.

5. If thought fit to obtain any Act of Parliament for the purpose last aforesaid, or for the dissolution of the company and the incorporation of its members as a new company for any of the objects specified in this memorandum.

It is by no means uncommon, where it is desired to procure the incorporation of a company by Special Act, for the promoters, in the first instance, to form themselves into a company, under the Act of 1862, for the desired objects; and also for the express purpose of applying to Parliament for an Act, dissolving the company so formed, and establishing in its place another company for the like objects, but regulated by the "Companies Clauses Consolidation Act, 1845," and the Acts amending the same. The advantages of this mode of procedure are considerable. If promoters are not incorporated, there is room for much dispute and litigation as to their rights and liabilities inter se, especially if the application to Parliament is abortive; but if they are incorporated, the articles of association, and if necessary, specific agreements made with the preliminary company, determine all these matters.

Again, a company incorporated by Act of Parliament, is not bound by contracts made before its incorporation by its promoters, unless the Act confirms the agreements. But if the promoters have formed themselves into a preliminary company, such company can enter into all necessary contracts, e.g., to purchase land, to pay compensation, to engage officers,

and so forth, and all these contracts will become binding on the Parliamentary company, because clauses are always inserted in an Act, which dissolves one company and establishes another in its place, transferring the contracts and liabilities of the former to the latter.

The directors of the preliminary company will be given full powers to take all necessary proceedings, and the company can of course from time to time alter, vary, and control their powers and proceedings. For precedent of such an Act, see infra, "Reconstruction." Unless the application for the Act of reconstruction is made one of the objects, the company cannot apply any of its funds in promoting the bill, see further, infra, Articles of Association, Miscellaneous Clauses, Notes to Form 25.

6. To borrow money, &c. [supra, p. 105, No. 9].

7. To purchase, or otherwise acquire, and take over, all or any part of the property and liabilities of any other Waterworks company, carrying on business in the parishes of, &c.

8. To (accept bills, &c.) [Ut supra, p. 106, No. 10].

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Objects.

1. To promote and protect the home, colonial, and foreign Chamber of trade and commerce, and the manufactures, of the United Commerce. Kingdom, and in particular the trade, commerce, and manu

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Chambers of Commerce are being incorporated in considerable numbers as companies, limited by guarantee. See supra, p. 81.

The licence of the Board of Trade, under Section 23 of the Act of 1867 (supra, p. 101), is always obtained for registration without the word "Limited as part of the name. For memorandum of association, see supra, p. 99. For suitable articles of association, see infra.

2. To consider all questions connected with such trade, commerce, and manufactures.

3. To promote or oppose legislative and other measures, affecting such trade, commerce, and manufactures.

4. To collect and circulate statistics, and other information, relating to such trade, commerce, and manufactures.

5. To act as arbitrator in the settlement of disputes arising out of commercial transactions.

6. To borrow any monies required for the purposes of the chamber upon such securities as may be determined.

Objects.

7. To purchase, &c. [Ut supra, p. 105, No. 8, omitting the words in brackets.]

8. To construct any buildings required for the purposes of the chamber.

9. To invest, &c. [Ut supra, p. 108, No. 14.]

10. To become a member or subscribe to any other association, whether incorporated or not, having objects altogether or in part similar to those of their chamber.

11. To sell, &c. [Ut supra, p. 108, No. 17.]

12. To do all, &c.

[Ut supra, p. 108, No. 18.]

In the above form, the word "Chamber" will be used throughout, instead of "Company."

Skating Rink.

III.

SKATING RINK.

1. To establish a skating rink, at, in the county of.

2. To carry on the business of a skating rink proprietor.

3. To manufacture and sell roller and other skates.

4. To purchase, &c. [Ut supra, p. 105, No. 8, concluding thus: "and in particular any lands, buildings, easements, patents, inventions, and licences."]

5. To borrow, &c. [Ut supra, p. 105, No. 9.]

6. To [accept bills,

7. To invest, &c.
8. To sell, &c.
9. To do all, &c.

&c., ut supra, p. 106, No. 10].

[Ut supra, p. 108, No. 14.] [Ut supra, p. 108, No. 17.]

[Ut supra, p. 108, No. 18.]

Life Assurance, etc.

IV.

LIFE ASSURANCE, ETC.

1. To grant or effect assurances of every kind on the life or lives of any person or persons whomsoever, and on survivorships, and to make and effect all such other assurances connected with life or the non-existence or failure of issue, general or special, and on or in connection with any other contingency or contingencies, event or events, as may be

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