THE HONGKONG GOVERNMENT GAZETTE, 28TH JULY, 1866.
Provided that no such Notes shall be issued for any other Sums than the Sum Five Dollars, or some multiple of such Sum, or other equivalent amount, unless the ing of Notes of other amounts shall be sanctioned by the Governor: Provided also at nothing herein contained shall exempt the Company from the operation of any, xisting or future laws of the Colony or of any Port, City, Town, or Place beyond the its of the Colony where they may with such consent as aforesaid establish Bank or Bench Banks, restricting or regulating the issue of such Notes, by Banks established therein.
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285
for keeping of Reserve
XIII. The total amount of the Bills and Notes of the Company payable to Bearer Limitation of Issue of demand actually in circulation shall not at any time exceed the amount of the Notes and provision Capital of the Company actually paid up, and there shall always be kept by the Principal against them. Establishment in the Colony, an amount of Coin and Bullion equal to one-third at
ast of the Notes and Bills of the Company for the time being in circulation.
XIV. The total amount of the Debts and Liabilities of the Company of what Limit of total Debts ature or kind soever shall not at any time exceed the aggregate amount of the then and Liabilities. existing bonâ fide Assets and property of the Company, and the Sum for which its Shareholders are liable under the provisions herein contained.
issue to take place.
XV. If at any time there shall be a Suspension of Payment of any of the Notes or In event of Suspension Bills of the Company, it shall not be lawful for the said Company froin and after of Payment, no fresh.. the commencement, and during the continuance, of such Suspension of Payment, to make fresh issue of Notes or Bills.
any
tion to Directors.
XVI. The Company shall not Discount, or in any manner Advance Money upon Limit of accommoda- Bills of Exchange, Promissory Notes, or other Negotiable paper, in or upon which the name of any Director, or Officer, of the Company, shall appear as Drawer, or Acceptor, either on his individual or separate account, or jointly with any partner or partners, or otherwise than as a Director or Officer of the Company, to an amount exceeding one third of the amount of the Sum for the time being under discount, or advanced by the Company, nor shall any Director be allowed to obtain Credit on his own personal guarantee.
aud Buildings subject
XVII. It shall be lawful for the Company notwithstanding the statutes of Mort- Power to the Com- main or any other statutes or laws to the contrary, to purchase, hold, take, and enjoy pany to hold Lands to them and their successors, such Houses, Offices, Buildings, Lands and Hereditaments, to certain restrictions. as shall or may be thought necessary or proper for the purpose of managing, conducting, and carrying on the affairs, concerns, and business of the Company, but not for the purpose of speculation, or any other purpose than as aforesaid, and so as no such Houses, Offices, Buildings or Land shall be more than the Yearly value of Thirty Thousand Dollars at the time of acquiring the same, or of such further Yearly value as shall be sanctioned by the Governor and to sell, convey, and dispose of the said property or any portion or part thereof, when not wanted for the purposes of the said business.
XVIII. All and every person and persons, and bodies, politic and corporate who are Power to other parties
to convey lands in or shall be otherwise competent, shall be and are hereby authorized and empowered Mortmain to Com- to grant, sell alien and convey in Mortmain unto, and to the use of, the Com- pany. pany and their successors, any such Houses, Offices, Lands, and other Hereditaments whatsoever as aforesaid accordingly.
Company to be given.
XIX. It shall not be lawful for the Company to make any purchase of Messuages, Notice of purchase and Lands or Hereditaments in the Colony or elsewhere, beyond the annual value of Thirty re-sale of lands of Thousand Dollars at the time of acquiring the same, or of such further annual value as shall be sanctioned by the Governor and when and as any such purchase shall be made by the Company, the Directors of the Company shall, in all cases, within Three calendar Mouths from the making and completing of any such purchase report the same in writing to the Governor, stating the amount of the purchase Money paid for the saine and giving a description of the Lands and Hereditaments so purchased, and such other particulars relating thereto as may from time to time be required by the Governor; and in case any Hereditaments so purchased be re-sold by the Company, they shall within Fourteen Days after every such sale, give notice in writing to the Colonial Secretary of the Colony of such re-sale, and of the price obtained for the same.
Lands and against
XX. Except for the purposes aforesaid it shall not be lawful for the Com- Prohibition against y to invest, lay out, employ, advance, or embark any part of their Capital or purchase of other Funds in the purchase of any Lands, Houses, or other real property, nor in any trading trading, but with or mercantile speculation or business whatsoever (not usually considered as falling within power to accept Lond the ordinary and legitimate purposes and operations of a Banking Establishment), but as security for Monies it shall nevertheless be lawful for the Company to take and accept any Lands, Houses,
and personal property