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To excente
mortgages in favour of directors.
To establish reserve fund.
52
wise, in the United Kingdom or the Colony of Hongkong or any other Colony or depen- dency of the United Kingdom, or Shanghai, or China or in or upon the stocks, funds, shares, bonds, debentures, mortgages or securities of any foreign government, coun- try, or state or upon real security in any foreign country or in and upon such stocks, shares and securities (not being shares in this Company,) and in such manner as they may think fit without being liable for any loss or depreciation in consequence of such invest- ments whether the same be usual or autho- rised investments for trust funds or not and from time to time to vary or realize such securities and investments.
(16) To execute in the name and on behalf of the Company, in favour of any Director or other person who may incur or be about to incur any personal liability for the benefit of the Company, such mortgages of the Company's property, (both present and future) including its uncalled capital as they may think fit, and any such mortgage may contain a power of sale and such other powers, covenants and provisions as shall be agreed on.
(17) Before declaring any dividend, to set aside. out of the profits of the Company, such sums as they may think proper as a reserve fund to meet contingencies, or for equalizing dividends, or for special dividends, or for repairing, improving, maintaining or adding to any of the property of the Company, and such other purposes as they shall, in their absolute discretion, think conducive to the interests of the Company; and to invest the several sums so set aside upon such invest- ments (other than shares of the Company) as they think fit, without being liable for any loss in depreciation of such investments, whether the same be usual or authorised investments for Trust Funds or not and
53 --
such
from time to time to deal with and vary investments, and dispose of all or any part thereof for the benefit of the Company, and to divide the reserve fund into such special funds as they think fit, with full power to employ the assets constituting the reserve funds in the business of the Company, and that without being bound to keep the same separate from the other assets.
fund.
(18) To employ the reserve fund for the time being Directors or any portion thereof (and that whether may deal such fund or such portion as is proposed to with reserve be dealt with was set aside for the special purpose to which it is proposed to be applied or for any other purpose or not) in or for all or any of the following purposes: that is to say, in meeting contingencies, in equalising dividends, in paying special dividends, in repairing improving or maintaining any of the property of the Company or otherwise in the business of the Company and in or for such other purposes as the Directors shall in their discretion think conducive to the interests of the Company and in regard to any such employment as aforesaid, the Direc- tors shall not be bound to keep the reserve fund separate from the other assets.
of the
(19) To give to any person employed by the To pay
Company a commission on the profits of any commission particular business or transaction, or a share to employees in the general profits of the Company for Company. any period and such commission or share of profits shall be treated as part of the working expenses of the Company.
+
(20) To appoint and in their discretion remove To appoint
or suspend Solicitors for the Company.
and remove Solicitors.
(21) To sell, improve, manage, exchange, lease, To deal with
let, mortgage, or turn to account, all or any property parts or part of the land, property, rights and of the
Company. privileges of the Company.
99