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This legislation has been repealed.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.