Section 3

to purchase or lease any lands required for any of the purposes of the Institute;

to take up and subscribe for or otherwise acquire shares in any company, if membership of the company is essential or advantageous to the Institute in connection with the acquiring and holding of any lease or tenancy from the company of land required for any of the purposes of the

Institute;

except in the case of leases from month to month, to sell, surrender, lease, exchange or mortgage any land or building vested in it in such manner as may be found most convenient or advantageous;

to borrow money whether by way of bank overdraft or otherwise for such of the purposes of the Institute as the

Council may from time to time consider desirable; and

to guarantee any contract with any company from which the

Institute holds or intends to hold any lease or tenancy in accordance with paragraph (b) and any other contract in which the Institute may have a financial interest and to which it may lawfully be a party in accordance with this section.