141
Power to borrow.
Conditions on which
money may
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of the issued shares of the class. This Article is not to derogate from any power the Company would have had if this Article were omitted.
Borrowing Powers.
51. The Directors may, from time to time, raise or borrow, or secure the payment of, any sum or sums of money for the purposes of the Company.
52. The Directors may raise or secure the payment or repayment of such sum or sums in such manner and be borrowed. upon such terms and conditions in all respects as they may think fit and, in particular, by the issue of deben- tures or debenture stock of the Company charged upon all or any part of the property of the Company (both present and future) including its uncalled capital for the time being.
Debenture stock and other securities.
Issue at discount,
etc., or with special pri- vileges.
Mortgage of uncalled capital.
53. Debentures, debenture stock, and other securities may be made assignable free from any equities between the Company and the person to whom the same may be issued.
54. Any debentures, debenture stock, bonds or other securities may be issued at a discount, premium, or other- wise, and with any special privileges as to redemption, surrender, drawing, allotment of shares, attending and voting at General Meetings of the Company, appointment of Directors and otherwise.
55. Where any uncalled capital of the Company is charged all persons taking any subsequent charge thereon shall take the same subject to such prior charge and shall not be entitled by notice to the members or otherwise to obtain priority over such prior charge.
Register of
56. The Directors shall cause a proper Register to be mortgages to kept, in accordance with Section 102 of the Companies be kept.
Ordinance, 1911, of all Mortgages and Charges specifically affecting the property of the Company; and shall duly comply with the requirements of Section 95 of the Companies Ordinance, 1911, in regard to the registra- tion of Mortgages and Charges therein specified and otherwise.
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Meetings.
57. A General Meeting of the Company shall be held When in every year at such time and place as the Directors may General determine. Such meetings shall be called the "Ordinary to be held.
Meetings Yearly Meetings." All other meetings of the Company shall be called "Extraordinary Meetings."
58. The Directors may, whenever they think fit, and When Ex- they shall, upon the requisition of the holders of not less traordinary than one-tenth of the issued capital of the Company upon be called;
Meetings to which all calls or other suins then due have been paid, Requisition. forthwith proceed to convene an Extraordinary Meeting
of the Company, and in the case of such requisition the provisions of Section 67 of the Companies Ordinance, 1911, shall apply.
59. Fourteen clear days' notice to the members of Notice of every meeting, specifying the place, day and hour of meeting. meeting, and, in case of special business, the general nature of such business, shall be given as hereinafter provided.
notice.
60. Where it is proposed to pass a Special Resolution Two meet- the two meetings may be convened by one and the same ings conven- notice, and it is to be no objection to such notice that it ed by one only convenes the second meeting contingently on the resolution being passed by the requisite majority at the first meeting.
61. The accidental omission to give any such notice As to omis-
to any of the members shall not invalidate any resolution sion to give passed at any such meeting.
Proceedings at General Meetings of the Company.
notice.
62. The business of an Ordinary Yearly Meeting Proceedings shall be to receive and consider the Profit and Loss at General Account, the Balance Sheet, and the Reports of the Meetings. Directors and of the Auditors, to elect the Directors and other Officers in place of those retiring by rotation, to sanction dividends, and to transact any other business which, under these Presents, ought to be transacted at an Ordinary Yearly Meeting. All other business transacted at an Ordinary Yearly Meeting and all business transacted at an Extraordinary Meeting shall be deemed special.
"
142.