CO129-245 - Acting Governor Fleming - 1890 [5-7] — Page 25

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conditions thereinafter mentioned, subject to the confirma- tion of the High Court of Justice in England and Ireland, and the Court of Session in Scotland; provided that share- holders dissenting from such special resolution, and holders of debentures or debenture stock charged on the undertaking of the Company, (there are no such holders in our case) and

any person or class or persons whose interests would, in the

opinion of the Court, be directly affected by the proposed

alterati

eration should, subject to rules to be made for the pur- pose by the Court, have power to appear before the Court and show cause against the confirmation of such special

resolution.

The limits and conditions above referred to

are therein fully set forth, and as regards these, my Directors would make the following observations: - Condition

(1) Our proposed Ordinance complies with this condition in every respect as the new or extendeu objects are cognate with

or ancillary to the principal objects of our Company expres

expressed in its Memorandum of Association. Condition (2)

Our proposea Orainance complies with this condition also,as our application for the proposed alteration is based upon circumstances which have arisen since the registration of the Company, namely that in several instances since that event the Directors have been compelled to refuse business out of the Colony which, had it been in the Colony, they might have effected under the present Memorandum of Asso- ciation, and which was of a considerably more remunerative nature than the business which could have been effected here, It would consequently be beneficial to the best interests

of the Company if the latter possessed more extended powers

cognate