borrowing powers

borrowing powers
the power of a public or corporate body to borrow. Most public bodies are invested by statute with power to borrow; the extent of any power in a particular case will depend on the precise language of the statute concerned (see Att. Gen. v. De Winton [1906] 2 Ch. 106).
A UK-registered company has no inherent power to borrow. However, a company that carries on a business has an implied power to borrow money and give security for the purpose of its business (see General Auction Estate Co. v. Smith [1891] 3 Ch. 432). Borrowing powers may be expressly conferred by provision in the company's memorandum of association; a company whose object is to carry on business as a general commercial company is endowed with the power to do all such things as are incidental or conducive (including borrowing) to that end in terms of the Companies Act 1985.

Collins dictionary of law. . 2001.

Игры ⚽ Поможем сделать НИР

Look at other dictionaries:

  • borrowing powers — ➔ power1 * * * borrowing powers UK US noun [plural] ► FINANCE the right of a company or organization to borrow money to finance their activities: »The committee asked the Government to clarify what the Post Office s borrowing powers were… …   Financial and business terms

  • borrowing powers — UK US noun [plural] business the amount of money that a company is able to borrow Thesaurus: relating to borrowing money and owing moneyhyponym …   Useful english dictionary

  • borrowing powers — borrowing .powers n [plural] the amount of money that a company is allowed to borrow, according to its own rules …   Dictionary of contemporary English

  • borrowing powers — noun (plural) the amount of money that a company is allowed to borrow, according to its own rules …   Longman dictionary of contemporary English

  • borrowing powers — UK / US noun [plural] business the amount of money that a company or individual is able to borrow …   English dictionary

  • Societies' Borrowing Powers Act 1898 — The Societies Borrowing Powers Act 1898 (61 62 Vict. c.15), long title An Act to empower certain Societies to borrow Money from Persons and Corporations other than Members, was an Act of Parliament of the Parliament of the United Kingdom, given… …   Wikipedia

  • central borrowing authority — noun (in Australia) an authority centralising the borrowing powers of some or all semi government and government authorities in a state in order to bring about orderly marketing of securities. Also, CBA …  

  • Separation of powers under the United States Constitution — This article refers to the separation of powers specifically in the United States. For the article on the theory of separation of powers, see: Separation of Powers Separation of powers is a political doctrine under which the executive,… …   Wikipedia

  • Implied powers — are those powers authorized by a legal document which, while not stated, are deemed to be implied by powers expressly stated. When George Washington asked Alexander Hamilton to defend the constitutionality of the measure against the protests [… …   Wikipedia

  • List of Acts of Parliament of the United Kingdom Parliament, 1940-1959 — This is an incomplete list of Acts of the Parliament of the United Kingdom for the years 1940 1959. For acts passed prior to 1707 see List of Acts of Parliament of the English Parliament and List of Acts of Parliament of the Scottish… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”