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The Memorandum of Association of the Company.
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4.—(1) The Memorandum of Association of the Company shall be in such form consistent with this Act as shall be approved of by the Minister after consultation with the Minister for Finance.
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(2) The objects of the Company shall be so stated in the Memorandum of Association that the principal functions of the Company shall be—
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(a) to apply for and take from the Minister such State mining lease under the Act of 1940 of the Slievardagh Coalfield as the Minister is required by this Act to make to the Company, and
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(b) to develop and work the Slievardagh Coalfield under the said State mining lease and to make marketable and sell the coal and other minerals got by such working, and
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(c) to apply for and take such prospecting and other licences and such leases under the Act of 1940 in respect of coal (including other minerals ordinarily found in association therewith) elsewhere than in the Slievardagh Coalfield as the Company shall think proper and the Minister shall grant under the said Act and to exercise the powers conferred by such licences and leases respectively and to make marketable and sell the coal and other minerals got by the exercise of those powers.
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(3) It shall be lawful to include amongst the objects of the Company as stated in the Memorandum of Association all such objects and powers (not inconsistent with this Act) as are reasonably necessary or proper for or incidental or ancillary to the due performance of the objects referred to in the next preceding sub-section of this section as the principal functions of the Company.
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(4) The objects of the Company as stated in the Memorandum of Association shall not include any object which is neither required nor authorised by the foregoing provisions of this section to be so stated.
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