4(1)The Director may, by letters patent, grant a charter to any number of persons, not less than three, who apply therefor, constituting such persons and others who become shareholders in the company thereby created, a body corporate and politic for any of the purposes or objects to which the authority of this Legislature extends, except the construction and working of railways, the management of trades unions, friendly societies, building societies, trust companies, loan companies, or other associations of like character.