On Sat, October 11, 2008 00:19, Mickey Conn wrote:
It does seem unnecessary to me. Can anyone explain
what it adds to
the default powers? If nothing, than let's remove it.
On Wed, Oct 8, 2008 at 1:32 AM, Thomas Dalton <thomas.dalton(a)gmail.com>
>> 10. undertaking any enterprise or business and generally do all such
>> other things as may be conducive to promoting the objects of the
> For the record, I strongly object to that object. It's not an object,
> it's a power and it's already in the default powers (in a much more
> concise wording). It's 4(1)(m):
> "to do all such other lawful things as are necessary for the
> achievement of the Objects."
Companies 101: It's a legal nicety to prevent problems later. Whilst a
Company may have the 'power' to anything it is limited to only doing
things that its 'Objects' permit it to do, thus even though the power to
do something to the overall benefit of the Company may seem reasonable if
it wasn't actually defined under the 'objects' as something that /could/
be done then a shareholder (in this instance a Guarantor member) could,
legally, go to law to prevent it happening.
Companies are only allowed to do the things that their Objects permit (ie
require) them to do. This is why the final Object for just about every
company is of the "do anything else appropriate" form as it covers all the
possible bases and stops others preventing it from doing useful stuff. If
it isn't an explicit object it effectively doesn't exist.