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COMPANIES (CO-OPERATIVE) ACT 1943 - THIRD SCHEDULE

This legislation has been repealed.

COMPANIES (CO-OPERATIVE) ACT 1943 - THIRD SCHEDULE

[s. 35]

Implied Powers of Companies

        The word company in this table when not applied to the company in respect whereof the following powers are implied, shall be deemed to include any partnership or other body of persons, whether incorporated or not incorporated, and whether domiciled in Western Australia or elsewhere, and whether formed or to be formed.

1.         To purchase, take on lease or on hire, or in exchange or otherwise to acquire in any manner howsoever, for such tenure and upon such conditions and terms as may seem fit —

            (a)         any estates or interests in any lands, freehold, leasehold or any other tenure, whether situate in the State of Western Australia or elsewhere, and any easements, licenses, rights or privileges connected with or in relation to any real estate;

            (b)         any plant, machinery, apparatus, implements, tools, appliances, minerals, metals, ores, stone, timber, coal, clay, merchandise of any kind, ships, vessels, locomotives, rolling-stock, and personal property of every description whatsoever.

            (c)         any concessions, rights, options, licenses, privileges, or advantages from any authorities, supreme, municipal, local or otherwise.

2.         To acquire or undertake the whole or any part of the business property and liabilities of any persons or company carrying on any business which the company is authorised to carry on or possessed of property suitable for the purposes of the company, and to undertake all or any part of the liabilities of any such person, firm, or company.

3.         To enter into partnership or into any arrangement for the sharing profits, union of interests, co-operation, joint adventure, reciprocal concession or otherwise, or amalgamate with any person or company carrying on, or engaged in or about to carry on or engage in any business or transaction which the company is authorised to carry on or engage in or any business or transaction capable of being conducted or entered upon so as to directly or indirectly benefit the company.

4.         To apply for, purchase, rent or acquire, maintain and prolong any patents, brevets d’inventions or inventions calculated to benefit or facilitate the operations of the company use, exercise, develop, and to sell or grant licenses in respect thereof or otherwise turn to account such patents, brevets d’inventions or inventions.

5.         To subscribe for, purchase or otherwise acquire and hold, underwrite, sell on commission, dispose of, and deal in shares, debentures, debenture stock, or securities of any other company or corporation or any Government or authority, supreme, municipal, local, or otherwise.

6.         To carry on any business or operations which may seem to the company capable of being conveniently carried on with advantage or calculated, directly or indirectly, to enhance the value of or render profitable any of the company’s property or rights for the time being.

7.         To develop and turn to account any real or personal property acquired by, or in which the company is interested and in particular by laying out, constructing, improving, altering, pulling down, decorating, maintaining, furnishing, fitting up, and improving the same or any part thereof or any buildings or erections thereon and by fencing, draining, irrigating, clearing or planting any property owned, leased or managed by the company, or in which it is otherwise interested, and thereon to erect, construct and maintain any buildings, improvements, dams, drains, water schemes, roads, bridges, or works whatsoever.

8.         To promote, form, subsidise, and establish any company or companies, corporation, or corporations for the purpose of acquiring all or any of the property, rights and liabilities of the company, or for any other purposes which may seem directly or indirectly calculated to benefit the company.

9.         To make loans or advances, undertake obligations and liabilities, and execute bonds and guarantees of any kind whether on behalf of the company or otherwise, and in particular for shareholders not being directors or for any persons or parties dealing with the company.

10.         To invest and deal with the moneys of the company not immediately required upon such securities, and in such manner, as may from time to time be determined.

11.         To discount and purchase bills, notes and other negotiable securities, and to guarantee the payment of moneys and the performance of any contracts or obligations.

12.         To raise or borrow money upon such terms and in such manner and upon such securities as the company shall think fit and to secure the same or the repayment or performance of any debt, liability, contract, or engagement incurred or to be entered into by the company in any way and in particular by the issue of debentures or debenture stock, or by giving mortgages, charges, or securities charged upon or over all or any of the company’s real and personal property (both present and future) including its uncalled capital, and to purchase, pay off, or redeem any such securities.

13.         To make, draw, accept endorse, execute and negotiate bills of exchange, promissory notes, drafts, bills of lading, bonds, guarantees, and all or any negotiable or transferable instruments.

14.         To pay for any property rights or concessions acquired by the company, or any services rendered to the company, or satisfy any debt or liability of the company, either wholly or partly in cash or in debentures or in shares with or without preferred or deferred rights in respect of dividend or repayment of capital, or otherwise, or in securities or partly in one mode and partly in another or others and generally in such form or manner as the company may deem advisable.

15.         To obtain any Act of Parliament for enabling the company to carry any of its objects into effect, or for effecting any modification of the company’s constitution or for any other purpose which may seem expedient, and to oppose any proceedings or applications which may seem calculated directly or indirectly to prejudice the company’s interests.

16.         To establish and form or assist in establishing and forming, and to support, aid, and join any association, union or body calculated in any way to benefit the company, and to subscribe to the same such money as the company may think expedient, and to agree to be bound by the decision and actions of and to do or join in doing all such acts and things as may be decided upon by the governing authorities of any such association, union, or body in accordance with the rules or articles thereof.

17.         To give donations, subsidies, or contributions to any association, union, or body, whether industrial, social, political, patriotic, or otherwise, and to establish and support or aid in the establishment and support of associations, institutions, funds or trusts calculated to benefit employees or ex-employees of the company or the dependants or connections of such persons, and to grant pensions and allowances and to make payments towards insurance, and to subscribe or guarantee money for charitable or benevolent objects, or for any exhibition, or for any public, general, or useful object.

18.         To distribute any assets of the company among the members in specie, whether by way of dividends, bonus, or return of capital or otherwise, subject, however, to such sanction or confirmation (if any) as is required by law.

19.         To amalgamate the business of the company with that of any other company in any manner and on any terms which may be considered advisable.

20.         To pay all costs, charges, and expenses incurred or sustained in or about the formation, registration and promotion of the company or which the company shall consider to be preliminary, including therein the cost of advertising, commissions for underwriting, brokerage, printing and stationery.

21.         To remunerate any person or company for services rendered or to be rendered in placing or assisting in placing or guaranteeing the placing of any of the shares in the company’s capital or any debentures, debenture stock, or other securities of the company, or in or about the formation or promotion of the company or the conduct of its business.

22.         To sell or dispose of or grant options over the undertaking of the company or any part thereof or of any real or leasehold estate belonging to the company for such consideration as the company may think fit, and in particular for shares, debentures or securities of any other company having its objects altogether or in part similar to those of the company.

23.         To relinquish, abandon, surrender, or give up, with or without any consideration therefor, any rights, concessions or other property of the company.