WIDENING OF SCOPE

Evening Post, Volume CXXI, Issue 141, 16 June 1936, Page 10

WIDENING OF SCOPE

A COMPANY'S POWERS A petition for the Court of Appeal to confirm special resolutions passed by shareholders for alteration of the memorandum of association of Levin and Co., Ltd., the main business, of which is that of stock and station agents, was heard by the Court today. The object of the resolutions was to empower the company to accept appointment and act as trustee or attorney. Their Honours Mr. Justice Reed (Acting Chief Justice), Mr. Justice Smith, Mr. Justice Johnston, Mr. Justice Fair, and Mr. Justice Northcroft constituted the Court, and Mr. H. E. Evans appeared for the company. The resolutions of which confirmation was sought were:— "To undertake and execute, whether alone or in conjunction with any person or persons in an advisory capacity or otherwise, any trusts of all kinds (other than executorships) whether created by deed or by the will or codicil of any deceased person, and to act as trustee or guardian of any estate or trust funds entrusted to the company, and to perform and discharge all acts and duties pertaining to the office of trustee or guardian."

"To act as agent under power of attorney and to perform and discharge all the acts and duties pertaining to the office of attorney."