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except in so far as may be necessary for the maintenance of peace and order on its boundaries and in the countries adjacent thereto.
(r.) During the time of restoration to order and pacification of the said provinces the Company and those to whom it delegates its power to have the power of making agreements and arrangements with any persons, individuals, or as representing bodies of people, whether tribes or otherwise joined together, that may be necessary for the attainment of the above objects without waiting for the approval of Her Majesty's Government, but such shall be liable to be modified by Her Majesty's Government if found to be detrimental.
(s.) The Company shall have all the powers and privileges necessary to enable it. to restore and maintain order, and establish trade and prosperity, and those administering its laws and regulations shall enjoy all the immunities and privileges usually enjoyed by the administrators of laws in civilized countries.
2. The Company on its part shall undertake to do and perform as hercinunder mentioned.
(.) To recognize the sovereignty of His Imperial Majesty the Sultan of Turkey so far as recognized by Her Majesty's Government."
(.) After interest on loans and paid-up capital and all costs of Government are satisfied and paid, to pay to such persons as the Sultan may appoint the sums hereinafter mentioned.
(c.) To do their best to restore peace and order, and establish a just and settled Government in the territories placed under their jurisdiction.
(d.) To use all means to establish trade and prosperity in those territories.
(e) To raise a capital of
1.
(f.) To construct and maintain necessary roads, railways, canals, telegraphs, and other means of communication.
(g.) To enact all laws and regulations necessary to the maintenance of order. (h.) To appoint and commission all civil and military officers who may be requisite to carry out the objects for which the Company is established.
(i.) To raise and maintain all necessary naval, military, and police forces. (j.) To use its best endeavours to entirely suppress and prevent the traffic in slaves, which is contrary to the precepts of the Koran and the tenets of Islam.
(k.) There shall be a Council, composed as follows, which, subject to the veto of Her Majesty's Government, shall have supreme control over all the affairs of the aforesaid territories :-
Chairman
-
Deputy-Chairman
(President)
Elected by other members of Council.
do.
do.
do.
Vice-Chairman
do.
do.
do.
Deputy Vice-Chairman
do.
do.
do.
Ten members elected by shareholders.
Two members for the holders of every 500,0001. of Company's obligation.
Four members to be nominated by Her Majesty's Government.
No person to be a member of Council who is possessed of less than 3,0001, of the shares of the Company with the exception of the representatives of the bondholders, who will be required to hold 2,0007. of the obligations of the Company.
The meetings of the Council to be presided over by the Chairman, his Deputy, the Vice-Chairman, or his Deputy, who when presiding shall, in addition to his own, have a casting vote,
Members shall form a quorum of the Couneil.
The quorum of the Council shall be administrative.
No act of the Council shall be valid for which less than one-third of the votes of the whole Council shall have been given exclusive of the casting vote of the President pro tem.
The Council, shall have power to appoint Committees consisting of its own members, and such other persons as it may deem fit to consider any special questions, the decision of such Committees not to liave executive force until they havé received the sanction of the Council.
The Council may for administrative purposes delegate its executive powers to such persons as they may select.
In order that the members appointed by Her Majesty's Government may be duly qualified, 15,0001. of the share capital of the Company shall be vested in trustees named by him, which shall be considered as the qualification of the nominated members.
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