Constitution

Annexure A


ADAPTION, FOR PURPOSES OF THE CONSTITUTION ON THE INSTITUTE, OF COMMON POWERS OF COMPANIES AS PER SCHEDULE 2 OF THE COMPANIES ACT
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Included in the powers of every company as laid down by section 34 of the Companies Act are the following common powers which, as adapted herein, shall apply to the Institute :-

(a)

to purchase or acquire in any way land, buildings, shares, debentures and every other kind or description of movable and immovable property;
(b) to manage, insure, sell, mortgage, dispose of, develop, build on, improve turn to account or in any way otherwise deal with its undertaking or all or any part of its property and assets;
(c) to apply for, purchase or by any other means acquire, protect, prolong and renew any patents, patent rights, licences, trade marks, concessions or other rights and to deal with and alienate them;
(d) to borrow money;
(e) to secure the payment of moneys borrowed in any manner including the mortgaging and pledging of property and, without detracting from the generality thereof, in particular by the issue of any kind of debenture or debenture stock, with or without security;
(f) to lend money to any person or company;
(g) to invest money in any manner;
(h) to open and operate banking accounts;
(i) to make, draw, issue, execute, accept, endorse and discount promissory notes, bills of exchange and any other kind of negotiable or transferable instruments;
(j) to enter into indemnities, guarantees and suretyships and to secure payment thereunder in any way;
(k) to amalgamate with other Institutions or Societies having objects in common with the Institute;
(l) to make donations;
(m) to undertake and execute any trust;
(n) to act as principals, agents, contractors or trustees;
(o) to pay gratuities and pensions and establish pension schemes in respect of its directors, officers and employees;
(p) to enter into contracts outside the Republic and to execute any contracts, deeds and documents in any foreign country; and
(q) to have a seal and to use such seal for any purpose in the Republic or in any foreign country.

 
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