CAP. 70]
[s, 2 cont.]
Incorporation.
(2 of 1866.)
37 of 1950, Schedule.
Regulations of the bank.
Ordinance and regulations binding on all persons:
power to amend regulations;
Hongkong and Shanghai Bank.
"incapacitated shareholder" means a shareholder being an infant, or an idiot or lunatic, or non compos mentis, or a bankrupt or one whose estate has, by the operation of law, become vested in any other person or persons in trust for or for the benefit of his creditors; "Ordinance" or "the Ordinance" means this Ordinance; "ordinary resolution" means a resolution of a simple majority of shareholders at a general meeting; "person" includes a firm, company or corporation; "regulations" means the regulations of the bank for the time being in force;
"share" means share in the share capital of the bank; "shareholder" or "holder of a share" or "holder of any share" means every person whose name is entered in any register of shareholders of the bank as a holder of any share or shares;
3. Notwithstanding the repeal of the Hongkong and Shanghai Bank Ordinance, 1866, the bank shall continue to be incorporated by the name of "The Hongkong and Shanghai Banking Corporation", and by that name shall and may sue and be sued in all courts, and in that name shall continue to have perpetual succession, with a common seal which it may vary and change at its pleasure: Provided that there shall be no limit whatever to the period of incorporation.
4. (1) The regulations are hereby substituted for and shall replace the deed of settlement dated the 20th day of July, 1867, and all the articles contained therein and any amendments thereof, and shall be for all purposes the regulations of the bank, and this Ordinance and the regulations shall be binding in all respects upon the bank and upon all persons whatsoever, whether shareholders or not, and shall regulate the rights and liabilities of all the above persons inter se, their heirs, executors, administrators, assigns or successors.
(2) At any time and from time to time it shall be lawful for the shareholders by special resolution to amend the provisions of the regulations or any of them: Provided that no such amendment shall be valid or have any force or effect until it has been approved by the Governor and
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