CO885-(16-18) — Page 172

PUBLIC RECORD OFFICE

C.O.

Reference :-

+885

17 PUBLIC RECORD OFFICE, LONDON

ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH-NOT TO

Regulations respecting the Incorporation anking Companies in the Colonies.

n Charters or legislative Enactments to the Incorporation of Banking Com- the Colonies, provision should be made bservance of the following regulations itions

-

The Amount of the Capital of the Com-

d number of shares to be determined ; whole of such determined amount to be d for within a limited period, not ex- Eighteen Months from the date of the or Act of Incorporation.

Shareholders to be declared a Body e, with common seal and perpetual suc-

and other usual corporate powers; and requisite proviso that judgment against poration shall attach to all additional

of the Shareholders, as well as to paid- al and other property of the Company.

Provision to be made, either by Recital firmation of any Deed of Settlement in pects or otherwise, for the clue Manage- the Company's Affairs by Appointment tors, and so forth, so far as shall seem

for the security of the Public.

No bye-law of the Company to be repug-

the conditions of the Charter or Act of ation, or to the Laws of any Colony in he Company's Establishments may be

The Corporate Body thus constituted specially empowered, subject to the con- hereafter mentioned, to carry on for a term of years (not to exceed Twenty-one inless under particular circumstances),

hin the Colony or Colonies specified in irter or Act of Incorporation, but not re, the Business of Banker; and for the n to issue and circulate within the said

or Colonies, but in such manner only as

t be at variance with any general law of

ny, Promissory Notes payable in Specie

Land.

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•885

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320. Such Banking Business or Issue of Notes not to commence or take place until the whole of the Fixed Capital of the Company has been subscribed for, and a moiety at least of the Subscription paid up. The remaining moiety of the Capital to be paid up within a given period from the date of the Charter or Act of Incor- poration, such period not in general to exceed two years.

321. In all cases in which Shares in the Com- pany's Stock are transferred between the period of the Grant of the Charter or Act of Incorporation and the actual commencing of business by the Bank, the responsibility of the original holder of the transferred Shares to continue for Six Months at least after the date of the transfer.

but

322. The Company not to advance Money on Security of Lands, or Houses, or Ships, or on pledge of Merchandise, nor to hold Land or Houses, except for the transaction of its business, nor own Ships, or be engaged in Trade, except as dealers in Bullion or Bills of Exchange; to confine its transactions to discounting Com- mercial Paper and negotiable Securities, and other legitimate Banking Business: the Com- pany may, however, accept Lands, or Houses, or Ships, or Shares in its Capital or Stock, or other Real or Personal Property in liquidation of, or as a Security for any Debt bona fide previously due to the Company, or as a security for pay- ment of any Sun for which any person may have rendered himself liable to the Company, and hold them for such reasonable time as may be necessary to dispose of and convert the same into Money.

323. The Company not to hold Shares in its own Stock, nor to make advances on the security

of those shares.

324. The Discounts or Advances by the Com- pany, on securities bearing the name of any Director or Officer thereof, as drawer, acceptor,

or endorser, not to exceed at any time one-third of the total Advances and Discounts of the Bank.

325. The dividends to Shareholders to be made out of profits only, and not out of the subscribed capital of the Company.

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Reference :-

C.O-885

17 PUBLIC RECORD OFFICE, LONDON

ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC-

COPYRIGHT PHOTOGRAPH-NOT TO