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122. (1) The Directors shall have power from time Board may to time, and at any time to appoint any qualified person fill vacancies as a Director either to fill a casual vacancy or as an addition to the Board, but so that the total number of Directors shall not at any time exceed the maximum number fixed as above, and so that no such appointment shall be effective unless a majority of the Directors concur therein. But any Director so appointed shall hold office only until the next ordinary yearly meeting of the Company but shall then be eligible for re-election at that meeting.
(2) The directors may appoint any person provided Alternate or that such person holds the number of shares that form Substitute the qualification for a Director to be an alternate (or Directors. substitute) Director in the place of any Director who is or is about to go abroad to act during his absence abroad, and such appointment shall have effect, and such appointee whilst he holds office as an alternate Director shall be entitled to notice of meetings of the Directors, and to attend and vote thereat accordingly but such substitute shall ipso facto vacate office if and when the Director, in whose place he is appointed, returns to Hongkong or vacates office as a Director.
of directors,
123. The qualification of a Director shall be the Qualification holding of 200 fully paid up shares in the Company in his own right.
124. No Member shall be eligible for election as a Director unless be holds the qualification mentioned in clause 123 hereof.
125. A Director may at any time give notice in Directors writing of his wish to resign by delivering such notice to may resign. the Directors at the Registered Office in Hongkong and, on the acceptance of his resignation by the Board, but not before, his office shall be vacant.
directors.
126. The Directors shall be paid out of the funds of Remunera- the Company in each year by way of remuneration for tion of their services the sum of $10,000 and such further sum (if any) as the Company in General Meeting may from time to time determine; and such remuneration shall be divided amongst the Directors in such proportions and in such manner as they may from time to time determine.
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