256
To give per- centage to officers, etc.
To establish reserve fund.
To make bye-laws.
To enter into contracts.
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such mortgages of the Company's property (present and future) as they think fit and any such mortgage may contain a power of sale and such other powers, covenants and provisions as shall be agreed upon.
(1) To give to any person employed by the Company a commission on the profits of any particular business or transaction or a share in the general profits of the Company, and such commission or share of profits shall be treated as part of the working expenses of the Company.
(r) Before recommending any dividend to set aside out of the profits of the Company such sums as they think proper as a reserve fund to meet contingencies or for special dividends or for repairing, improving and maintaining any of the property of the Company, and for such other purposes as the Directors shall in their absolute discretion think con- ducive to the interests of the Company, and to invest the several sums so set aside upon such investments (other than shares of the Company) as they may think fit, and from time to time to deal with and vary such investments and dispose of all or any part thereof for the benefit of the Company, and to divide the resrve fund into such special funds as they shall think fit with full power to employ the assets constituting the reserve fund in the business of the Company and that without being bound to keep the same separate from the other assets.
(8) From time to time to make vary and repeal bye-laws for the regulation of the business of the Company, its officers and servants.
(t) To enter into all such negotiations and contracts, and rescind and vary all such contracts, and execute and do all such acts, deeds and things in the name and on behalf of the Company as they may consider
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expedient for or in relation to any of the
matters aforesaid, or otherwise for the purposes of the Company.
Trustees.
trustees.
179. The Directors may, if they think fit, at any Directors time appoint any person or persons or corporation to may appoint act as Trustees for any of the purposes of the Company, and in particular to accept and hold in trust for the Company any property belonging to the Company, or in which it is interested: and may execute and do all such acts, deeds and things as may be necessary to vest the same in any such person or persons or corporation. Any Trustees so appointed may be removed by the Directors and shall have such remuneration, powers and indemnities, and perform such duties and be subject to such regulations as the Directors may determine.
Annual Returns.
180. The Company shall make the requisite Annual annual returns in accordance with Section 27 of the returns. Companies' Ordinance 1911.
Solicitors.
181. Messrs. Johnson, Stokes and Master of Princes Solicitors. Buildings, Victoria, Hongkong, shall be the Solicitors of the Company.
Dividends and Bonus.
182. Subject as aforesaid the profits of the Com- Division of pany shall be divisible among the members in profits. proportion to the capital amount paid up on the ordinary shares held by them respectively.
advanced at
183. Where Capital is paid up in advance of calls Calls upon the footing that the same shall carry interest interest not such capital shall not whilst carrying interest confer to particpate. a right to participate in profits.
Declaration
184. The Company in General Meeting may of dividend declare a dividend and/or bonus or bonuses to be paid
to the members according to their rights and interests in the profits and may fix the time of payment.