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(The) Bout's shall cratimee
shall umamit
bobe and incorporated button shall
from henceforth be no lunt Whatever to the denation the incoronation
8
(4) "Regulations' means the regulations of the
Bank for the time being in force.
(7) "Share" means share in the share capital of the
Bank.
(s) "Shareholder” or “holder of a share" or "holder of any share means every person whose name is entered in any register of shareholders of the Bank as a holder of any share or shares.
(4) Supreme Court" means the Supreme Court of the Colony and includes any judge or judges thereof, sitting either together or separately, in court or in chambers.
tion.
3.The shareholders for the time being of the Bank are Incorpora- and Shail be one body corporate, without any limit as to the duration of the period of incorporation, by the name of The Hongkong and Shanghai Banking Corporation and by that name shall and may carry on and pursue the business and objects authorised by this Ordinance and by the regulations and may sue aut be sued and shall have perpetual succession, with a common seal, with power to hold lands
Bunk.
4. (1) The regulations contained in the Schedule are New regula- hereby substitmed for and shall replace the Deed of Settle- tions of the ment dated the 20th day of July, 1867, and all the articles contained therein and any amendments thereof, and shall be for all purposes the regulations of the Bank, and this Ordinance and the regulations shall be binding in all Owlinnnes respects upon the Bauk and upon all persons whatsoever, and regula whether shareholders or not, and shall regulate the rights tious binding and liabilities of all the above persons inter se, their heirs, executors administrators, assigns or successors.
on all persons.
(2) At any time and from time to time it shall be law- Power to ful for the shareholders by special resolution to amend the amend provisions of the regulations, or any of them. provided regulations that no such amendment shall be valid or have any force
or effect until the same shail have been approved by the Governor and published in the Gazette. Any such power
to amend as aforesaid includes the power to amend, vary, rescind, revoke or suspend any regulation or any part thereof and the power to make any new regulation.
(3) A copy of the regulations and of any such special Proof of resolution to amend, purporting to be certified by the regulations,
Colonial Secretary to be a correct copy, shall be received
in all courts of justice, and for all purposes, us valid and sufficient evidence of the contents of the regulations and
of the fact that such regulations have been duly approved
and published in the Gazette.
5. (1) The objects of the Bank shall be the carrying Objects of the on the business of banking and the other businesses and Bank and objects set forth and contained in regulation No. 3 of the conduct of its regulations, under the management of the Directors, and
the Bunk shall be at liberty to continue, commence, carry on and effect all or any of its objects at any of its estab- lishments, that is to say, at its Head Office and also at its present branches, agencies and sub-agencies and also at any additional branches, agencies nud sub-agencies whether in the Colony or elsewhere which may hereafter be established with the consent of the Commissioners for the Line being of His Majesty's Treasury (such consent being signified in writing under the hands of the said Commis- sioners or of any two of them). A
business.
(2) The Bank shall have power to close any of its Power to close establishments.
establish- ments.
6. It shall be lawful for the Bank to sell, dispose of and Power to sell convert into money any real or personal property of and convert whatever description, mortgaged, charged, pledged, or property hypothecated to the Bank or taken by it in satisfaction,
security. liquidation or payment of any debt or liability,
taken as
t
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7. The expital of the Bank is 20,000,000 dollars, divided. Present into 160,000 shares of $125 enchi, all of which are fully capital. paid up at the commencement of this Ordinance. The Increase of capital may, with the consent of the Governor previously capital. obtained and notified in the Gazette, from time to time be increased by ordinary resolution, of which notice has been duly given, passed at a general meeting, to a total amount not exceeding the sum of 50,000.000 dollars.
8. The shareholders in general meeting shall, in Alteration of aaldition to the power hereinbefore conferred of increasing capital. the capital of the Bank, have power by ordinary resolt- tion :→
(a) to consolidate and divide all or any of the capital of the Bank into shares of larger nominal amonnt than its existing shares:
{b} to sub-divide its shures, or any of them, into shares of smaller amount than is fixed by this Ordinance or by the regulations, so, however, that in the sub-division the proportion between the amount paid and the amount, if any, unpaid on each reduced share shail be the same as it was in the case of the share from which the redhead share is derived; and
(c) to cancel shares which, at the date of the pass- ing of the resolution in that behalf, have not been taken or agreed to be taken by any person, and to diminish the amount of its capital by the amount of the shares so cancelled, and a cancella- tion of shares in pursuance of this section shall not be deemed to be a reduction of capital.
9.-(1) The shareholders may, subject to the prior Reorganisa *pproval of the Governor, by special resolution reorganise tion of the capital, whether by the consolidation of shares of capital. different classes or by the division of the shares into shares of different classés :
Provided that no preference or special privilege attached to or belonging to any class of shares shall be interfere with except by a resolution passed by a majority in mumber of shareholders of that class holding three-fourths of the share capital of that class and confirmed at a meeting of shareholders of that class in the same manner as a special resolution of the Bauk is required to be confirmed, and every resolution so passed shall bind all shareholders of the class,
(2) A copy of any such resolution shall be filed with the Colonial Secretary within seven days after the passing of the same or within such further time as the Governor may allow, and the resolution shall not take effect untii such copy has been so filed.
10. Et shall be lawful for the Bank to make, issue, and Power to circulate notes of the Bank payable to bearer on demand issue bearer
at the place of issue nul in coin lawfully current at such notes. place, and to re-issue the notes from the place at which the same were originally issued. The number of notes of a lower denomination than 5 dollars issued by the Bank shall be limited to such number as may from time to time be authorized by the Secretary of State.
11.-(1) The total amount of the notes of the Bank Amount of payable to bearer on demand actually in circulation shall and security not at any time exceed the equivalent of the sum of for note issue. 30,000,000 dollars,
(2) The Bank shall at all times keep deposited, either with the Crown Agents or with trustees to be appointed by the Secretary of State, or partly with the Crown Agents and partly with such trustees, coin of denomina- Lions to be approved by the Secretary of State, or, at the option of the Bauk, securities to be so approved, or at the like option, partly such coin and partly such securities, equal in value to the sum of 23,333,333 dollars, such coin
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