Capacity and powers of company
23.—(1)  Subject to the provisions of this Act and any other written law and its constitution, a company has —
(a)full capacity to carry on or undertake any business or activity, do any act or enter into any transaction; and
(b)for the purposes of paragraph (a), full rights, powers and privileges.
[36/2014]
(1A)  A company may have the objects of the company included in its constitution.
[36/2014]
(1B)  The constitution of a company may contain a provision restricting its capacity, rights, powers or privileges.
[36/2014]
Restriction as to power of certain companies to hold lands
(2)  A company formed for the purpose of providing recreation or amusement or promoting commerce, industry, art, science, religion or any other like object not involving the acquisition of gain by the company or by its individual members must not acquire any land without the approval of the Minister but the Minister may empower any such company to hold lands in such quantity and subject to such conditions as the Minister thinks fit.
(3)  Notice of a decision of the Minister under subsection (2) must be given by the Registrar on behalf of the Minister to the company.
(4)  The decision of the Minister under subsection (2) is final and is not to be called in question by any court.
[12/2002]
(5)  Upon the application of a company and payment of the prescribed fee, the Registrar must issue to the company a certificate confirming the decision under subsection (2).