1963-HKRS30-8-54_Part04 — Page 3

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WIS

THE HONGKONG AND SHANGHAI BANKING CORPORATION ORDINANCE.

(Chapter 70),

Special Resolution of shareholders passed in exercise of the powers conferred by subsection (2) of section 4 of the Hongkong and Shangbai Banking Corporation Ordinance on the 20th day of March, 1964.

That pursuant to section 4(2) of The Hongkong and Shanghai Banking Corporation Ordinance The Hongkong and Shanghai Bank Regulations be amended as follows-

I. TRANSFER OF SHARES.

That paragraphs (1) and (2) of regulation 53 be deleted and the following substituted therefor-

"(1) Save as provided in paragraph (2), shares in the bank shall be transferred by an instrument under hand signed by the transferor and the transferee in the form set out in Appendix 2 or in any usual or common form which the board may approve.

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(2) Shares on the London register may be transferred in the manner for the time being permitted by the Stock Transfer Act, 1963, as if they were securities to which section I of that Act applies,

(ZA) The transferor of shares in the bank shall be deemed to remain the holder of such shares until the name of the transferee is entered in the appropriate registers in respect thereof.”.

II. SCRIP FEES.

(1) That regulation 18 be deleted and the following sub- stituted therefor-

"18. If the board so requires, a fee not exceeding two dollars or its equivalent in local currency shall be paid for any new certificate issued under the regulations.”. (2) That paragraph (4) of regulation 53 be deleted and the following substituted therefor—

"(4) If the board so requires, a fee not exceeding two dollars or its equivalent in local currency shall be paid before the issue of any new certificate, whether the same is issued consequent on a transfer or transmission of the shares to which it relates or the splitting up of an cxisting certificate.”.