CO129-135 - Public Offices & Others - 1868 — Page 274

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

Office of notes issued beyond the limits of the Colony as well as at the place of sue

I am to state, for the information of the Secretary of State, that my Lords are satisfied with the provision made in Article 14 of the deed of Settlement in accordance with the rules laid down in the Colonial Regulations.

No. 523.

As regards the remarks of the Governor in reference to the extent to which accommodation may be afforded to Directors, My Lords would observe, that Article 324 of the Colonial Regulations was adopted after careful consideration, and Section XVI of the Ordinance No. 272, which appears to be in accordance with that regulation, must be construed as empowering the Bank to advance to the Directors as a whole, not more than one hundreth part of the total advances and discounts of the Bank, and not as allowing advances to that extent to each individual director.

As regards Article 90 - My Lords are of opinion that no alteration or annulment of Articles 12, 13, 14, or 94 should be permitted without the consent in writing of this Board.

Subject to these remarks, My Lords approve of the deed of settlement.

Jane, Sec.

Your obedient Servant,

M...

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Office of notes issued beyond the limits of the Colony as well as at the place of sue I am to state, for the information of the Secretary of State, that my Lords are satisfied with the provision made in Article 14 of the deed of Settlement in accordance with the rules laid down in the Colonial Regulations. No. 523. As regards the remarks of the Governor in reference to the extent to which accommodation may be afforded to Directors, My Lords would observe, that Article 324 of the Colonial Regulations was adopted after careful consideration, and Section XVI of the Ordinance No. 272, which appears to be in accordance with that regulation, must be construed as empowering the Bank to advance to the Directors as a whole, not more than one hundreth part of the total advances and discounts of the Bank, and not as allowing advances to that extent to each individual director. As regards Article 90 - My Lords are of opinion that no alteration or annulment of Articles 12, 13, 14, or 94 should be permitted without the consent in writing of this Board. Subject to these remarks, My Lords approve of the deed of settlement. Jane, Sec. Your obedient Servant, M... 2

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Acad office of notes issued beyond the limits of the Colony as well as at the place of sue I am to state, for the information of the Secretary of State, that my ands are satisfied with the provision made in Article 14 of the deed of Settlement in accordance with the rules lard Down in the Colonial Regulations No. 523. As regards the remarks of the overnor in reference to the extent Dwhich accommodation Quay be afforded to Director. My hords would observe, that Article 324 of the a Regulations was adopted after carefil consideration, and Section XVI of the ordinance 272 Ordinance, which appears to be in accordance with that regulation, must be construed as empowering the Bank to advance to the Directors whole, not more than onethund as a of the total advances and discounts of the Bank, and not as allowing advances to that extent to each individual director. are Asregards Article 90 - Myards of opinion that no alteration. or annullment of Articles 12.13.14 or 94 should be permitted without the consent in writing of this Board . Subject to these remarks, My Lords approve of the deed of settlement. Jane, Ser. Your obedient Servant, ворвотних M 2

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Acad

office of notes issued beyond the limits of the Colony as well as at the place of sue

I am to state, for the information of the Secretary of State, that my ands are satisfied with the provision made in Article 14 of the deed of Settlement in accordance with the rules lard

Down in the Colonial Regulations

No. 523.

As regards the remarks of the overnor in reference to the extent Dwhich accommodation

Quay

afforded to Director. My hords would observe, that Article 324 of the a

Regulations

was adopted after carefil

consideration, and Section XVI of the

ordinance

272

Ordinance, which appears to be in accordance with that regulation,

must be construed as

empowering

the Bank to advance to the Directors

whole, not more than onethund

as a

of the total advances and discounts of

the Bank, and not as allowing advances to that extent to each

individual director.

are

Asregards Article 90 - Myards of opinion that no alteration. or annullment of Articles 12.13.14 or 94 should be permitted without the consent in writing of this Board .

Subject to these remarks, My Lords approve of the deed of settlement. Jane, Ser.

CO129-135 - Public Offices & Others - 1868 — Page 274

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