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And it was by the said Charter further provided that the total amount of the notes payable on demand in circulation should not at any time exceed the amount of the Capital of the Bank actually paid up unless with the sanction of the Commissioners of the Treasury.
By the Supplemental Charter dated the 20th July 1861 an increase of the Bank's Capital was authorised, and authority was given to the Bank with the previous sanction in writing of any two or more of the Commissioners of the Treasury and subject to such regulations or restrictions as the Commissioners might think fit to impose to establish a Bank or Branch Bank in the Island of Singapore.
And it was declared that it should be lawful for the Bank subject to the regulations and restrictions aforesaid to make issue and circulate in the Island of Singapore and the adjoining British Settlements, that is to say, Penang and Malacca, notes payable to bearer on demand, and to re-issue the same.
By authority of Her Majesty's Treasury dated the 1st August 1861, power was conferred upon the Bank to establish Branches and issue notes payable to bearer on demand at Singapore, Penang, and Malacca provided that no such notes should be issued for any other sum than the sum of £1 Sterling or $5 or some multiple of such £1 or $5.
By a Second Supplemental Charter dated the 10th November 1874 the Authorities conferred by the previous Charter and Supplemental Charter were continued for 10 years from the 29th December 1874.
By a Third Supplemental Charter bearing date the 18th December 1884 it was ordained that the Bank should continue incorporated for a further period of 10 years.
The Bank has for many years past carried on an extensive Banking business, amongst other places in Hongkong and in the Straits Settlements, and has issued Notes to the full extent...
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