Article 23 Power to acquire and dispose of businesses or shares

(1)

The Company may—

(a)

acquire by agreement—

(i)

any business or undertaking which consists wholly or mainly of the carrying out of harbour operations or so much of any business or undertaking as consists of the carrying out of such operations; or

(ii)

any business or undertaking which is wholly or mainly engaged in providing services or facilities which the Company itself is auihtorised to provide;

(b)

subscribe for or acquire any shares, stock, debentures, debenture stock or any other security of a like nature of a body corporate which is wholly or mainly engaged, in the provision, maintenance or operation of a harbour or in providing services or facilities which th Company itself is authorised to provide;

(c)

form and promote, or join with any other person in forming or promoting, a company for carrying on any function of the Company;

(d)

dispose of or discontinue the whole or any part of its undertaking acquired under this article and held for the purposes of th transferred harbour but subject to all liabilities and obligations in respect thereof to which the Company is subject; and

(e)

dispose of any shares or oother securities subscribed for or acquired under this article.

(2)

Nothing in this article shall authorise a company formed under sub-paragraph (c) of paragraph (1) above to exercise any of the powers of the Company under—

(a)

the Harbours, Docks and Piers Clauses Act 1847;

(b)

the Harbours Act 1964; and

(c)

section 18 (Power to Board to make byelaws) of the British Railways (No. 2) Act 1975^f1.

Annotations

Footnotes

f1: 1975 c. xxix.