Arrangement of sections



Download 41.47 Kb.
Page3/4
Date21.05.2021
Size41.47 Kb.
1   2   3   4
4. Powers of corporation.

The corporation has power–

(a) to purchase, take on lease, acquire by gift, devise, exchange or otherwise property in the country; and

(b) to sell the Mission property or any part of it, together or in parcels, by public auction or private contract, for cash or on credit, on such terms and conditions as the corporation thinks proper; and

(c) to exchange the property or any part of it for other property; and

(d) to transfer and assure the property when sold or exchanged to the purchaser or to the person taking the exchange, freed and discharged from any trusts affecting it; and

(e) for all or any of the purposes referred to in Paragraphs (a), (b), (c) and (d), to sign, seal and execute all such contracts, transfers and other deeds, documents and instruments as are necessary; and

(f) to raise sums of money when and on such terms as the corporation thinks proper, by deposit of the deeds or by mortgage, with or without power of sale, of the Mission property or any part of it, and to execute all proper assurances for that purpose; and

(g) to demise and lease the Mission property or any part of it for such periods, at such rents and on such terms and conditions as the corporation thinks proper; and

(h) to appoint by instrument under the seal of the corporation any person as the attorney of the corporation, generally or in respect of specified matters, and to act in any place, and all deeds signed by the attorney on behalf of the corporation and under his seal are binding on the corporation and have the same effect as if they were under the seal of the corporation.



5. Rents, etc.

A lessee, mortgagee, purchaser, person taking on exchange or other person paying rent or other money to the corporation is not bound to see to the application of the rent or other money, and the receipt of the corporation or of the Head of the Mission is a sufficient discharge.






Share with your friends:
1   2   3   4




The database is protected by copyright ©essaydocs.org 2020
send message

    Main page