DOMINION LEGISLATION—CANADA 833

authorised by s. 16 of the Act; or (d) to carry
on trust business as defined by the ‘ Trust
Companies Act,” R.S. C. s. 14.

A company shall have as ancillary and incidental to
the objects set forth in its memorandum of
association, a variety of specified powers unless
2xpressly excluded by the memorandum in the
case of any particular company; these specified
powers include powers to acquire any real or
personal property, to construct and maintain
roads, tramways, sidings, bridges, reservoirs,
wharves, ships and stores; subject to s. 145
‘which excludes shareholders and directors), to
lend money to any person or company having
dealings with the company or with whom the
company proposes to have dealings; to carry on
any business capable of being conveniently
carried on with the business of the company or
calculated directly or indirectly to enhance the
value of or to render profitable any of the
company’s property or rights. The section does
not apply to existing companies unless expressly
adopted.

Admits of shares either with or without a nominal
or par value. Where the shares are without
such value, the number of shares which the
company is authorised to issue shall be stated
in the memorandum of association.

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The amount of the capital of a company and the
nominal or par value (if any) of its shares shall
oe expressed in the denominations of money
in the currency of Canada.

company may change its name by a special
resolution with the approval of the Registrar
signified in writing.
“rovides for the conversion of shares with nominal
or par value into shares without nominal or
par value and vice versa.

—ontains similar provisions to s. 96 of the English
Act of 1929, as regards an index to the register
of members with the exception that the provision
 does not apply when the membership of the
company is less than roo whereas the statutory
maximum under the English Act is 50.
Enacts that every public company shall have at
least two directors (English Act, 1929, s. 98), one
nf whom shall reside in the Province (s. qq).