# 114. ANY QUESTION which shall arise at any Meeting of the Board shall be decided by a majority of votes unless the Board shall make other Regulations in that behalf.
# 115.-THE ACTS of the Board shall, notwithstanding any vacancy in the Board, or any defect in the appointment of any Member of the Board, be as valid as if no such vacancy or defect had existed, and as if every such person had been duly appointed, provided the same be done before the discovery of the defect.
# 116.--THE BOARD shall cause Minutes of the following matters to be made in Books to be provided for the purpose, viz:-
1a-Of the names of the Directors present at every Meeting of the Board.
2nd-Of the proceedings of all General Meetings.
3rd-Of the proceedings of all Meetings of the Board.
# 117. THE BOARD shall provide for the safe custody of the Common Seal, which shall be used only in such a manner as it may direct.
# 118. THE BOARD without any further power or authority from the Shareholders may do the following things, viz:-
1. It may, except as is by these Presents otherwise provided, appoint a Standing Counsel, a Solicitor or Solicitors for the Company, and Agents for carrying on the business of the Company abroad, and may determine the duties of such persons, and may fix the amount of their salaries or emolument, and may sanction the payment of the same out of the funds of the Company, and may execute and issue Powers of Attorney for the establishment of Agencies.
2. It may invest all or such part as it may deem expedient of the Funds of the Company in or upon English, India or Hongkong or any other Government Stocks, or Bonds, upon Mortgage of Leasehold property in Hongkong, or Real or Leasehold property in Shanghai, or in or upon deposits or funds at interest to the Banks established at Hongkong, Shanghai or London, and may from time to time convert or realize or re-invest the same or any part thereof as occasion may require.
3. It may institute, conduct, defend, compromise, refer to arbitration, and abandon, legal and other proceedings and claims, by and against the Company and the Secretary and Officers of the Company and otherwise concerning the affairs of the Company.
4. It may allot, cancel, as hereinbefore mentioned, or re-allot Shares, and may accept or reject any Transferee of any Share sold or sought to be sold by any existing Shareholder in the Company,
5. It may, if it shall consider it expedient or advisable, alter the time for the payment of the losses of the Company so as to accord with the arrangements made by other Insurance Offices in Hongkong in that respect, and generally, the Board shall have the entire management of the business of the Company, but subject to the control of the Shareholders, and to the Rules and Regulations as herein expressed and contained.
6. It may appoint a certain number of Shareholders to act as a Committee at another place under the directions of the Board.
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