Edinburgh Merchant Company Order Confirmation 1996

Powers of joint committee

135 (1) The joint committee may act for the purpose of transacting and disposing of any business common to the Company, the widows' fund, the education board and the endowments trust including, without prejudice to the foregoing generality—

(a) the expenses of management and the allocation of these expenses among the Company, the widows' fund, the education board and the endowments trust;

(b) the making of contracts;

(c) the apportionment of the accommodation required for the various departments in the office of the Company;

(d) the appointment, suspension and dismissal of employees (as opposed to office-holders);

(e) the fixing of the terms of appointment of any officials and any alterations thereof;

(f) the fixing of the rate of interest to be charged and paid from time to time on loans granted by any one of the Company, the widows' fund, the education board or the endowments trust respectively to any other of the Company, the widows' fund, the education board or the endowments trust respectively or granted from any of the funds under the management of either the education board or the endowments trust to any other of the said funds; and

(g) the consideration of reports upon all other matters which may be remitted to the joint committee.

(2) The joint committee may make such rules and orders for conducting its business as it may deem expedient:

Provided that such rules shall not be inconsistent with the provisions of this Order.