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[59 & 60 Vict.] South Shields Corporation Act, 1896. [Ch. l.]
such company of the liabilities of the Corporation under any scheme or schemes made under this part of this Act or any of them.
187. The provisions of sections 7 to 10 of the Provident Nominations and Small Intestacies Act 1883 shall (so far as applicable) extend and apply to the thrift fund and to the contributors thereto and to the Corporation as if the thrift fund were the funds of a registered trade union and the contributors to the thrift fund were members of a registered trade union and the Corporation were directors within the meaning of that Act.
188 The Corporation shall not be bound to recognise or see to the execution of any assignment or of any trust (whether express implied or constructive) relating to any contributions of any contributing member to the thrift fund or the interest thereon or additions thereto but the receipt of the contributing member for the same or (if he is dead) of his legal personal representatives or the person or persons to whom the same may be paid under the authority of this Act shall from time to time be a sufficient discharge to the Corporation in respect thereof notwithstanding any assignment thereof or any trust to which the same may be subject and whether or not the Corporation have had notice express implied or constructive of any such assignment or trust or of any charge or incumbrance upon any such contributions or the interest thereon or additions thereto or any part thereof respectively and the Corporation shall not be bound to see to the application of any money paid on any such receipt or be answerable or accountable for any loss misapplication or non-application thereof.
189. The Corporation may from time to time appoint and pay one or more chartered accountants or members of the Incorporated Society of Accountants and Auditors to act as auditor or auditors of the accounts of the Corporation in such manner as the Corporation direct in addition to the auditors appointed under the Municipal Corporations Act 1882.
190.-(1.) The Corporation may from time to time by resolution determine that any sum or stints which the school board for the borough (herein-after referred to as " the school board ") may be by law authorised to borrow or re-borrow upon the security of any rates or funds and which the school board may be desirous of borrowing from the Corporation shall be lent by the Corporation accordingly.
(2.) Any sum or sums which the Corporation shall resolve to lend as aforesaid may be raised either by the issue of Corporation stock or by borrowing or re-borrowing the same on mortgage of the borough fund and borough rate and the provisions of sections 236
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