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The Memorandum of Association of the Company.
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6.—(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 prospect for minerals wherever situated or suspected of being situated within the State and for that purpose to apply for and take from the Minister such prospecting licences under the Act of 1940 as the Company shall think proper and the Minister shall grant under the said Act, and to exercise the powers conferred by those licences, and
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(b) to develop and work any minerals which the Company, as a result of their prospecting or otherwise, deem advisable to work, and for that purpose, to apply for and take from the Minister such leases and licences under the Act of 1940 as the Company shall think proper and the Minister shall grant under that Act, and also, for the same purpose, to make, with the consent of the Minister, agreements with private persons for the acquisition of any mining business or the purchase of land containing minerals, or the taking of minerals by way of lease or licence, and
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(c) to acquire from the Minister in accordance with this Act and to carry on and develop any existing mining business which has been acquired under this Act by the Minister, and
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(d) to make marketable and sell or otherwise dispose of the minerals worked by the Company in the exercise of any of the powers conferred on them by or under this Act,
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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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