1891-HKRS29-1-1-1_Part03 — Page 9

'No. 1.

PROCLAMATION.

William Robin 17

Governor.

By His Excellency Sir WILLIAM ROBINSON, Knight Commander of the Most Distinguished Order of Saint Michael and Saint George, Governor and Coinmander-in-Chief of the Colony of Hongkong and its Dependencies, and Vice-Admiral of the same.

Whereas by section 5 of Ordinance 5 of 1866 entitled The Hongkong and Shanghae Bank Ordinance it was provided among other things that the capital of the Company (meaning the Hongkong and Shanghae Banking Corporation)"should consist of five millions of dollars divided into forty thousand shares of one hundred and twenty-five dollars each, and such further capital not exceeding two millions five hundred thousand dollars, as the Directors for the time being should deem necessary for the purposes of the said undertaking and for the creation of which they should have previously obtained the consent of the Governor, such consent being signified in writing under the hund of the Governor, but such further capital should be divided into shares of one hundred and Twenty-five dollars each and be paid up in full as thereinafter inentioned. And until such further cupital should be raised as aforesaid, the aforesaid sum of five millions of dollars should be taken to be the fixed capital of the Corporation, and whenever and so often as any further capital should have been raised then a notification or proclamation to that effect under the hand of the Governor should be published in The Hongkong Government Gazette, and the said sum of five millions of dollars together with such further capital should thenceforth be taken to be the fixed capital of the Corporation, but with power, nevertheless, to further increase such capital as thereinafter mentioned.

And whereas a further capital of two and a half millions of dollars divided into shares of one hundred and twenty-five dollars each was subseqnently created and fully paid up making together with the original capital of five millions of dollars the total capital of seven millions and five hundred thousand Dollars and the consent of the then Governor of Hongkong and its Dependencies. His Excellency Sir GEORGE BOWEN, Knight Grund Cross of the Most Distinguished Order of Saint Michael and Saint George was thereto duly obtained in writing and a notification or proclamation to that effect, under the hand of the said Governor, was published and appeared in The Hongkong Government Gazette of the 12th day of July, 1884.

And whereas by section 22 of the said Ordinance it was provided that it should be lawful for the Corporation from time to time to extend or increase their capital for the time being by the creation and sale of new shares, in the manner specified and set forth in the Deed of Settlement so as the same be made with the consent of a General Meeting of the Shareholders of the Corporation to be specially called for that purpose, and with the consent previously obtained of the Governor und under such conditions and provisions as he should think fit, such consent being evidenced as thereinbefore provided for with respect to other requirements of a like nature, and so as the total amount of the capital of the Corporation should not exceed the sum of ten millions of dollars, And until it should be certified by the Governor in like manner as aforesaid that one balf of such new capital had been so paid up, the Corporation should not be entitled, by advertisement or otherwise, to state or hold out to the public that the amount of the capital had been increased.

And whereas it having been duly intimated to the then Governor of the Colony of Hongkong and its Dependencies Sir G. WILLIAM DES VIUS, Knight Commander of the Most Distinguished Order of Saint Michael and Saint George, that the desire of the Directors of the said Corporation was to further increase the capital of the said Corporation to the total amount of Ten millions of dollars by the creation and sale of new shares in accordance with the Deed of Settlement of the said Corporation and