PART III NEW PROVISIONS RELATING TO THE COMPANY AT THE TRANSFERRED HARBOUR

23 Power to acquire and dispose of businesses or shares
1 The Company may—
(a) acquire by agreement—
(i) any business or undertaking which consists wholly or mainly of thecarrying out of harbour operations or so much of any business orundertaking as consists of the carrying out of such operations; or
(ii) any business or undertaking which is wholly or mainly engagedin providing services or facilities which the Company itself isauthorised to provide;
(b) subscribe for or acquire any shares, stock, debentures, debenturestock or any other security of a like nature of a body corporate whichis wholly or mainly engaged, or which it is proposed should becomewholly or mainly engaged, in the provision, maintenance or operation ofa harbour or in providing services or facilities which the Companyitself is authorised to provide;
(c) form and promote, or join with any other person in forming andpromoting, a company for carrying on any function of the Company;
(d) dispose of or discontinue the whole or any part of its undertakingacquired under this article and held for the purposes of the transferredharbour but subject to all liabilities and obligations in respectthereof to which the Company is subject; and
(e) dispose of any shares or other securities subscribed for oracquired under this article.
2 Nothing in this article shall authorise a company formed undersubparagraph (c) of paragraph (1) above to exercise any of the powers ofthe Company under—
(a) the Harbours, Docks and Piers Clauses Act 1847;
(b) the Harbours Act 1964; and
(c) section 18 (Power to Board to make byelaws) of the British Railways(No. 2) Act 1975.
1975 c.xxix.