Commercial Building and Investment Company Sales Act of 1889 53 Vic (NSW)

1889. 53° VIC.

Commercial Building and Investment Company Sales.

ANNO QUINQUAGESIMO TERTIO

VICTORIA REGINA.

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An Act for the purpose of enabling the "Commercial Building and Investment Company (Limited)" to sell and deal with Real Estate belonging to them, and of

validating past sales or other dealings by the said Company. [12th September, 1889. ]

\ \/ WEREAS the "Commercial Building and Investment Company } (Limited)," (hereinafter called the said Company) was on the twenty-seventh day of April, one thousand cight hundred and cighty- one, duly incorporated under the provisions of 'the Companics Act, and the objects for which the said Company was incorporated were stated in the Memorandum of Association to be as follows :—

(a) The acquiring by purchase or otherwise frechold and leasehold estates.

(0) The making of advances repayable by instalments or other- wise to shareholders and others upon the security, either of buildings to be erected by them or upon freehold and lease- hold properties in their possession.

(c) The ercction of houses and buildings on the lands of the Company.

(d) The letting on building lease of the lands of the Company.

(e) The formation of suburbs under certain rules and conditions as to the class of buildings, size of allotments, and sanitary arrangments.

(f) The receiving of money on deposit at interest.

(g) The doing of all such other things as are incidental or con- ducive to the abovementioned objects.

And whereas doubts have been raised whether under the said Memo- randum of Association the said Company has power to sell and otherwise deal with lands. And whereas the said Company has on numerous occasions since the date of its incorporation sold and otherwise dealt with lands and other hereditaments for valuable con- sideration. And whereas it is expedient that the said doubts should be removed. Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and the Legislative Assembly of the Colony of New South Wales in Parliament assembled, and by the authority of the same, as follows :—