Construc- tion of regulations.
Agreement by share-
holders to abide by Ordinance
and Re-
gulations.
Objects of the Bank.
230
SCHEDULE
Regulations
1. The following shall be the regulations of the Bank, and they shall be construed by the law in force for the time being in Hong Kong.
2. Every shareholder, his heirs, executors, administrators, or assigns or successors shall perform the several engagements on the part of the shareholders which are expressed in the Ordinance and in the regulations, and shall in all other respects perform and abide by the provisions of the Ordinance and the regulations.
3. The objects of the Bank are :—
(1) The carrying on the business of banking in all its branches and departments and of financial agents including the issue of notes; the borrowing, raising or taking up of money; the lend- ing or advancing, with or without security, of money, securities and property, and also with or without security the granting or contracting for open general credits; and also the receiving of money on deposit or current account at interest or otherwise; the making, drawing, accepting, endorsing, issuing, discount- ing, buying, selling, exchanging, remitting and otherwise deal- ing with bills of exchange, promissory notes, coupons, com- pradore orders, native bank orders, drafts, bills of lading, warrants, bonds, debentures, certificates, scrip and other instru- ments and securities whether transferable or negotiable or not; the granting and issuing of letters of credit and circular notes; the buying, selling and dealing in bullion specie and coins; the negotiating of loans and advances; the collecting and transmitt- ing of money and securities; the managing of property; and the transacting of all kinds of agency business commonly transacted by bankers.
(2) To take, accept, enforce, release, realise or deal with any security now held or which may hereafter be held by the Bank for any moneys owing or to become owing to the Bank, or for any liabilities incurred or to be incurred towards or by the Bank by way of mortgage, pledge, hypothecation, deposit or otherwise howsoever of every kind of property or rights.
(3) To carry on the business of a savings bank in all branches of
such business.
(4) To acquire by purchase or otherwise, or otherwise to partici- pate in, deal in, and turn to account, the business of any mercantile trading or banking concern or any other business of whatsoever nature and any part of the real and personal property belonging to any such concern in connection with the business operations carried on by such concern.
(5) To establish, carry on, undertake, finance, or otherwise deal with and turn to account, any business, undertaking, transac- tion or operation commonly carried on or undertaken by bankers, discounters, bill brokers, bullion brokers, or exchange brokers.
(6) To hold, improve, undertake, realise and deal with as may seem expedient any business or property which the Bank may be- come entitled to by foreclosure or otherwise, and for the pur- pose of better realizing or dealing with any security to purchase the equity of redemption of or any share or other interest of whatsoever nature in any property upon or in connection with which the Bank has or may have any charge or lien.