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shall have power to appoint an Umpire and the decision of the Referees or their Umpire shall be binding on the parties in difference.
-31--
XXII
151. THE Regulations contained in the Table marked A in the first Schedule to "The Companies' Ordinance, 1865," No. 1 of 1865, of the Legislature of Hongkong shall not apply to the Company.
not to apply,
When one half capital and all reserve fundes-pended Extra-ordinary General Meeting to be called.
Winding up same as if under a special Resolution.
Investment and ultimate application of unclaimed dividends.
XX.--Dissolution of the Company.
148.--If at any time the losses of the Company shall amount to one half the Capital and all the Reserve Fund the Board shall forthwith call an Extraordinary Meeting and submit thereto a full statement of the affairs of the Company. The Meeting may, in such a case, by majority of votes resolve that the Company be thereupon dissolved and its affairs wound up, or may by such a majority resolve that the Company continue to carry on its business, and the course so decided on shall be binding on the Company.
149--In case the Company shall be dissolved as in article 148 provided, its affairs shall be wound up and liquidated in the same manner in all respects as though a special resolution had been passed to wind the Company up voluntarily, under the provisions of "The Companies' Ordinance 1865."
XXI.--Unclaimed Dividends.
150.--Any unclaimed dividends may be laid out and invested as the Board shall think fit, and the monies so invested and the accumulations thereof shall from time to time be paid to the persons so entitled to the same, provided that no such claim shall be admitted after 3 years from the day of dissolution; and that such monies to which no claim shall have been established within such period shall then be applied as part of the Capital for the benefit of the Shareholders generally, and that the effluxion of the term of 3 years shall be an effectual bar against all.
165
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shall have power to appoint an Umpire and the decision of the Referees or their Umpire shall be binding on the parties in difference.
-31--
XXII
151. THE Regulations contained in the Table marked Regulations of A in the first Schedule to "The Companies' Ordinance, Table to the 1865," No. 1 of 1865, of the Legislature of Hongkong Ordinance 1865
Companies' shall not apply to the Company.
not to apply,
When one half capital and all reserve fundes-
pended Extra- ordinary Gene ral Bleeting to be untled.
Winding up
same as if ander & special Reso- lution.
Investment and ultimate ap- plication of unclaimed dividenda.
XX.--Dissolution of the Company.
148.--If at any time the losses of the Company shall amount to one half the Capital and all the Reserve Fund the Board shall forthwith call an Extraordinary Meeting and subrait thereto a full statement of the affairs of the Company. The Meeting may, in such a case, by jority of votes resolve that the Company be thereupon dissolved and its affairs wound up, or may by such a ma- jority resolve that the Company continue to carry on its business, and the course so decided on shall be binding on the Company.
149-In case the Company shall be dissolved as in article 148 provided, its affairs shall be wound up and liquidated in the same mauner in all respects as though a special resolution had been passed to wind the Com- pany up voluntarily, under the provisions of "The Com- panies' Ordinance 1965."
XXI.-Unclaimed Dividends.
150.-Any unclaimed dividends may be laid out and invested as the Board shall think fit, and the monies so invested and the accumulations thereof shall from time to time be paid to the persons so entitled to the same, pro- vided that no such claim shall be admitted after 3 years from the day of dissolution; and that such monies to which no claim shall have been established within such period shall then be applied as part of the Capital for the benefit of the Shareholders generally, and that the efflu xion of the term of 3 years shall be an effectual bar against all.
165
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