WHEREAS a Joint Stock Company called The Otago and Southland Investment Company (Limited) has been lately established in England under the Act of the Imperial Legislature known as The Companies' Act 1862 [Repealed] and subject to the provisions and regulations contained in the Memorandum and Articles of Association thereof dated respectively the seventh day of April one thousand eight hundred and sixth-four And whereas it is provided by such Memorandum of Association that the registered Office of the said Company shall be situate in England and that the objects for which the said Company is established are—(1) To provide a medium of communication between the Government public bodies landowners merchants and settlers in New Zealand and the merchants capitalists traders and industrial classes of the United Kingdom and its dependencies Europe and elsewhere (2) To receive deposits issue debentures obligations promissory notes payable to bearer on demand and to negotiate loans of all descriptions (3) To purchase rent hire lease or otherwise acquire and to sell or otherwise dispose of lands houses and real and personal property of every description and to undertake assist and participate in financial commercial and industrial operations and undertakings both in New Zealand and in the United Kingdom its dependencies and elsewhere both singly and in connection with other persons firms companies and corporations as well as principals as agents (4) To advance money for public works or contracts or on security or otherwise to invest money and generally to conduct all dealings and transactions connected with financial commercial or industrial operations or undertakings or with money affairs to accept retain possess and fulfil the terms and conditions of any acts decrees concessions grants powers patents rights or privileges made or to be made or granted by the British Government the Governments of New Zealand or any other Governments or any other authorities (5) To transact all kinds of agency business between New Zealand and the United Kingdom and its dependencies Europe and elsewhere and to do all such things as are or may be deemed incidental or conducive to the attainment of the aforesaid objects or any of them And whereas it is also provided by such Memorandum of Association that the liability of the members thereof is limited that the nominal capital of the Company is one million dollars divided into fifty thousand shares of twenty dollars each subject to be increased or modified and that the first issue should be twenty-five thousand shares And whereas provisions are contained in the said Articles of Association for reducing or increasing the nominal amount of the capital of the said Company in the manner therein mentioned And whereas it is desirable that the said Company should have the power and privileges necessary or expedient for enabling it to carry on its business in New Zealand
“one million dollars” and
“twenty dollars” were substituted, as from 10 July 1967, for the expressions
“five hundred thousand pounds” and
“ten pounds” pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).