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ance with the Yokohama Specie Bank Regulations and these Articles of Association shall be binding on absent Shareholders and on Shareholders who vote against such Resolutions.
47.-General Meetings of the Shareholders are of two kinds, namely, Ordinary General Meetings and Extraordinary General Meetings. Ordinary General Meetings shall be held twice each year in the months of March and September, at such place, day, and hour as may be appointed by the Board of Directors, and Extraordinary Gene- ral Meetings shall be held whenever the Board of Directors may think necessary or whenever at least ten Shareholders holding not less than one-tenth of the total number of shares shall make requisition to that effect; but the place, day, and hour of holding any such Extraordinary General Meeting shall be determined by the Board of Directors. The Board of Directors shall have power to change the place, day, and hour of any General Meeting if necessary, but every such change shall be notified to the Share- holders prior to the date already announced for holding the Meeting.
48.-The Board of Directors shall, upon a requisition made in writing by at least ten Shareholders holding not less than one-tenth of the total number of shares, imme- diately take steps to convene an Extraordinary General Meeting. In case the Board of Directors do not take such steps for the period of fifteen days after the receipt of such requisition, the requisitionists may themselves convene a meeting. The Resolu- tions passed at an Extraordinary General Meeting so convened by the requisitionists shall have no force unless the same be confirmed at another Extraordinary General Meeting convened by the Chairman of such Meeting.
49-The requisition mentioned in the preceding Article shall state the object of the meeting and shall be delivered at the Bank addressed to the Board of Directors.
50.-The business of an Ordinary General Meeting of Shareholders shall be as follows:-
(1.) To receive and consider the report of the Board of Directors upon the state of the business of the Bank and the accounts, and all other important matters that have occurred or have been transacted during the half-year preceding such meeting.
(2.) To resolve upon the division of profits and to determine the amount of
reserve to be set aside.
(3) To clect Directors and Auditors. The election of the Directors, however, shall only take place annually at the Ordinary General Meeting of Share- holders held in the month of March.
51.-The business of an Extraordinary General Meeting of Shareholders shall be
to pass upon the following matters :----
(1) Increase or reduction of Capital.
(2.) Voluntary winding up of the Bank or
existence.
(3) Alterations in the Articles of Association.
(4) The opening or closing of Branches.
an extension of the period of its
(5) The election of Directors in place of those removed by the order of the
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Minister of State for Finance or on account of acts mentioned in Article 44 bereof.
(6.) Matters other than those mentioned in the preceding five paragraphs seriously affecting the welfare and interest of the Bank.
52.-Fifteen days previous notice, at the least, shall be given to the Share- holders of the couvening of any General Meeting. The resolutions passed at any such General Meeting so convened shall be valid although some Shareholders may not have received such notice or were unable to attend for want of sufficient time.
53-Every such notice shall specify the place, day, and hour of meeting, and if it be an Extraordinary General Meeting it shall also state the object of the meeting. The notice shall be sent to the registered address of those persons who have been the Shareholders of the Bank for at least sixty days preceding the date of the meeting, Such notice may be sent by post or any other mode of transmission that may be determined by the Board of Directors.
54. Such notice shall be signed by the President or such person as may be appointed for the purpose by the Board of Directors. If it be in respect of au Ex- traordinary General Meeting mentioned in Article 48 hereof it shall be signed by the Shareholders convening the meeting.
55.-No business shall be transacted at an Extraordinary General Meeting of Share- holders or at an adjourned meeting thereof, other than the business previously notified to the Shareholders as the object of the meeting.
56-All General Meetings may be attcuded by the Shareholders personally or by proxy. Proxies shall be Shareholders holding powers of attorney for such purpose. 57-No Shareholder who is an Officer or Employee of the Bank, or who has de- posited his shares with the Bank as security for his own debt or for the debt of others shall act as a proxy.
58-No General Meeting (excepting the case of Article 64) shall be commenced, unless there be prescal personally or by proxy not less than one-fifth of the Share - holders representing in the aggregate not less than one-half of the total number of shares. This rule does not apply to the case of reporting upon or discussing the matters mentioned in paragraphs 1 and 2 of Article 50 hereof.
59.-If within one hour after the time appointed for holding a General Meeting there is no quorum present as prescribed by Articles 58 and 64 hereof, the meeting shall be dissolved if couvened by the Shareholders; but if convened by the Board of Direc- tors it shall stand adjourned to such place, day, and hour as may be determined by the Board of Directors. Notice of the place, day, and hour of such adjourned meeting shall be given to the Shareholders and the date so appointed shall be within thirty days from the date of the adjournment,
60. In case the business to be transacted at a General Meeting is not finished, the Chairman may adjourn the meeting, to such place, day, and hour as he may at the time appoint. No notice of any such adjournment need be sent to the Shareholders. 61. The President of the Bank shall be Chairman of all General Meetings,
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