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58. The annual general meetings referred to in regulation 57 shall be called the ordinary yearly general meetings. All other meetings of share- holders shall be called extraordinary general meetings.
59. The Board may at any time it thinks proper and shall on the requisi- tion in writing of not less then twenty shareholders, holding in the aggregate not less than one-tenth of the issued capital of the Bank upon which all calls or other sums then due have been paid and having been such holders during not less than three months prior to the date of such requisition, forthwith proceed to convene an extraordinary general meeting of the Bank; and in case of any such requisition the following provisions shall have effect :--
(a) The requisition must state the objects of the meeting, and must he signed by the requisitionists and deposited at the Head Office, and may consist of several documents in like form, each signed by one or more requisitionists.
(b) In case the Board fail to convene an extraordinary general meet- ing to be held within twenty one days after such requisition has been deposited, the requisitionists, or a majority of them in value, may themselves convene the meeting for the purpose so specified but not for any other purpose; but any meeting so convened shall not be held after three months from the date of such deposit.
(c) If at any such meeting a resolution requiring confirmation at an- other meeting is passed, the Board shall forthwith convene a further extraordinary general meeting for the purpose of con- sidering the resolution, and if thought fit, of confirming it as a special resolution, and if the Board do not convene the meeting within seven days from the date of the passing of the first resolution, the requisitionists or a majority of them in value may themselves convene the meeting.
(d) Any meeting convened under this regulation by the requisitionists as aforesaid shall be convened in the same manner, as nearly as possible, as that in which meetings are to be convened by the Board.
60. A resolution shall be an extraordinary resolution when it has been passed by a majority of not less than three-fourths of such shareholders entitled to vote as are present in person or by proxy at a general meeting of which notice specifying the intention to propose the resolution as an extraordinary resolution has been duly given.
61. A Resolution shall be a special resolution when it has been-
(a) passed in manner required for the passing of an extraordinary
resolution; and
(b) confirmed by a majority of such shareholders entitled to vote as are present in person or by proxy at a subsequent general meet- ing, of which notice has been duly given, and held after an interval of not less than fourteen days, nor more than one month, from the date of the first meeting.
62. Ten days notice (except for an adjourned meeting as provided for in regulations 67 and 68) to the shareholders of every meeting specifying the place, day and hour of meeting, and, in case of special business, specifying also the general nature of such business, shall be given by advertisment in one or more daily newspapers printed and circulating in the Colony.
Distinction between ordinary and Extra ordinary General Meetings.
Convening ordinary
of Extra-
General Meeting.
Definition of "Extra- ordinary Resolution.
Definition of "Special" Resolution.
Notice of Meeting.
ings conven- ed by one notice.
63. When it is proposed to pass a special resolution, the two meetings Two meet- may be convened by one and the same notice, and it is to be no objection to such notice that it only convened the second meeting contingently on the resolu- tion being passed by the requisite majority at the first meeting.