CAP. 70]
The Hongkong and Shanghai Banking Corporation.
[r. 109 cont.] of exchange, promissory notes, bills of lading, dividend warrants, debentures, receipts, acceptances, indorsements, cheques, releases, contracts and documents; and signatures; to employ agents, brokers, etc; to accept security; to establish and administer reserve; to utilize premium on issue of bank's shares;
(21) to employ such agents or brokers and other persons as the board may think necessary for furthering the interests of the bank and its customers, and pay such salaries, commissions or other remuneration as the board may deem reasonable;
(22) to accept such security for the fulfilment of any contracts or engagements entered into with the bank as the board may think fit;
(23) in the discretion of the board, before recommending any dividend, to set aside out of the profits of the bank such sums as the board thinks proper as a reserve, or reserve fund or carry forward, to be added to the existing reserve or carry forward, and to apply such sums or any part or parts thereof to meet contingencies or to equalize dividends, or for special dividends or bonuses, or to repair, improve and maintain or add to any of the property or assets of the bank, or for such other purposes as the board may in its absolute discretion think desirable in the interests of the bank, and to invest the several sums so set aside upon such investments (subject to regulation 5) as the board may think fit without being liable for any loss in or depreciation of such investments, whether the same be usual or authorized investments for trust funds or not, and from time to time to deal with and vary or realize such investments and dispose of all or any part thereof for the benefit of the bank, and to divide the reserve or reserve funds for the time being into such special funds as the board may think fit, with full power to employ all or any part of the assets constituting any reserve or reserve funds or carry forward in the business of the bank, and that without being bound to keep the same separate from the other assets;
(24) to utilize if thought fit the premiums which may from time to time be received by the bank from the issue of new shares for the purpose of adding to and maintaining the reserve or reserve funds or for any other purpose which the board thinks fit;
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