ور والصيد البحرية تامة من لا يا الله لهما مساله اهل ایان نے سال کے کی ہیں کہ ایک ایسے گے۔
Custody of seal.
Signatures to cheques, dc, and execution of deeds,
Appointment of Secretary,
Custody of books, &c.
Duties of Secretary.
Accounts to be kept.
Yearly statement of accounts and report to be furnished.
Inspection of books, Je,
Commission of Managing Directors.
Aunual dividend
Interim dividend,
20
THE SEAL AND SIGNATURES TO CHEQUES, &c.
87. The Board shall provide for the safe custody of the common seal.
88. The signatures of two Directors (whether Permanent or not) and that of the Secretary shall be necessary to all cheques drawn on the funds of the Company, and the like signatures shall be necessary to all bills of exchange, promissory notes, or other obligations for the payment of money, and the like signatures shall, in addition to the common seal, be necessary to all deeds or instruments under seal requiring execution by the Company.
THE SECRETARY.
89. The Secretary shall be appointed and may be removed by the Board, and he shall in all matters be subject to its orders and directions, and shall be paid such salary as it may from time to time determine.
90. He shall keep at the office of the Company all such books, records, registers, and other instruments and writings as are required to be kept by or on behalf of the Company.
91. He shall conduct and maintain, under the direction and control of the Board, all the correspondence of the Company, and all returns required by the Ordinances, and generally do all and everything that the Board may direct for the due management and carrying on of the business of the Company.
ACCOUNTS.
92. The Board shall keep true accounts of all sums of money received or expended by or on behalf of the Company, and of the matters in respect of which such receipt or expenditure shall be made, and of the capital and assets, credits and liabilities of the Company, and of all other matters necessary for showing the true state and condition of the Company.
93. The Board shall make yearly statements of the accounts of the Company from the 1st day of January to the 31st day of December in each year, which shall be duly audited and presented to the Shareholders at each of the Ordinary yearly Meetings of the Company, together with a report on the general position of the Company.
94. No Shareholder, unless he be a Director, or a clerk, accountant, or other person in the employment of the Company, whose duty requires him so to do, shall be entitled to inspect the books, accounts, documents, or writings of the Company, except such as shall be produced by the Board for that purpose at any Meeting. Any Auditor may inspect such books, accounts, documents and writings.
COMMISSION, DIVIDEND, AND RESERVE FUND.
95. In addition to his share of the remuneration mentioned in Article No. 80, each of the Managing Directors shall be entitled to a commission of three dollars and fifty cents per cent. on the net profits of the Company for each current year in which such net profits amount to seven dollars on the paid-up capital, and to a commission of five dollars per cent. on such per cent. net profits for each current year in which they amount to ten dollars per cent. or upwards on the paid-up capital.
96. The Board may at each Ordinary yearly Meeting declare such a dividend in respect of the shares as it shall think fit.
97. The Board may at any time declare an interim dividend in addition to the annual dividend hereinbefore mentioned.
$2
21
42
98. The Board may before declaring any dividend set apart out of the net profits of the Company such a sum as it thinks proper as a Reserve Fund to meet contingencies, or for equalizing dividends, or for maintaining all or any of the buildings, property, or effects of the Company, or for such other purposes as it shall think fit, and may invest the same in or upon all, or any, or either of the modes of investment hereinbefore authorized by Article No. 86, and may from time to time vary or transpose any such investments.
99. No unpaid dividend shall bear interest as against the Company.
100. The Board may deduct from any dividend payable to any Shareholder all sums of money due from him to the Company on any account whatsoever.
101. Notice of any dividend that is payable shall be given to the Shareholders entitled to receive the same, and any dividend unclaimed for two years after the same shall have become payable may be forfeited by the Board for the benefit of the Company, and be applied in such manner as it shall think fit.
AUDIT,
102. From time to time the accounts of the Company shall be examined and their correctness ascertained by two Auditors.
103. Any Shareholder or non-shareholder shall be eligible to be an Auditor.
Reserve Fund
Dividend not to carry interest,
Board may deduct debts to Company.
Notice of dividend.
Unclaimed dividend.
Accounts to be audited.
Qualification of Auditors.
Auditors,
104. The Board shall appoint the first Auditors for the purpose of making a report at the first Ordinary Meeting, and those Auditors shall retire from office at that Meeting.
105. Every future Auditor, except as is hereinafter mentioned, shall be appointed at the Ordinary yearly Meetings of the Company by the Shareholders present thereat, and shall hold office until the next Ordinary yearly Meeting.
106. Every retiring Auditor shall be eligible for re-election.
107. No person, not being a retiring Auditor, shall be eligible for the office of Auditor unless notice of an intention to propose him at an Ordinary yearly Meeting shall be given for not less than seven days prior to such Meeting, and a copy of every such notice shall be posted up at the office of the Company during the five days immediately preceding the Meeting,
Appointment of future Auditors.
Retiring Auditors eligible for re-election.
Notice of intention to propose Auditor.
108. The remuneration of the Auditors shall be determined and may from time to time be varied by the Board.
103. If any casual vacancy shall occur in the office of Auditor the Board shall fill up the vacancy by the appointment of a person who shall hold office until the next Ordinary yearly Meeting.
110. Every Auditor shall at least ten days before every Ordinary yearly Meeting be supplied with a copy of the statement of accounts intended to be laid before the Meeting, and it shall be his duty to examine the same with the accounts and vouchers relating thereto and vouch its accuracy.
Board to fill casual vacancy,
Auditors to vouch accounts.
ور والصيد البحرية تامة من لا يا الله لهما مساله اهل ایان نے سال کے کی ہیں کہ ایک ایسے گے۔
Custody of seal.
Signatures to cheques, dc, and execution of deeds,
Appointment of Secretary,
Custody of books, &c.
Duties of Secretary.
Accounts to be kept.
Yearly statement of accounts and report to be furnished.
Inspection of books, Je,
Commission of Managing Directors.
Aunual dividend
Interim dividend,
20
THE SEAL AND SIGNATURES TO CHEQUES, &c.
87. The Board shall provide for the safe custody of the common seal.
88. The signatures of two Directors (whether Permanent or not) and that of the Secretary shall be necessary to all cheques drawn on the funds of the Company, and the like signatures shall be necessary to all bills of exchange, promissory notes, or other obligations for the payment of money, and the like signatures shall, in addition to the common seal, be necessary to all deeds or instruments under seal requiring execution by the Company.
THE SECRETARY.
89. The Secretary shall be appointed and may be removed by the Board, and he shall in all matters be subject to its orders and directions, and shall be paid such salary as it may from time to time determine.
90. He shall keep at the office of the Company all such books, records, registers, and other instruments and writings as are required to be kept by or on behalf of the Company.
91. He shall conduct and maintain, under the direction and control of the Board, all the correspondence of the Company, and all returns re- quired by the Ordinances, and generally do all and everything that the Board may direct for the due management and carrying on of the business of the Company.
ACCOUNTS.
92. The Board shall keep true accounts of all sums of money received or cxpended by or on behalf of the Company, and of the matters in respect of which such receipt or expenditure shall be made, and of the capital and assets, credits and liabilities of the Company, and of all other matters necessary for showing the true state and condition of the Company.
93. The Board shall make yearly statements of the accounts of the Company from the 1st day of January to the 31st day of December in each year, which shall be duly audited and presented to the Shareholders at each of the Ordinary yearly Meetings of the Company, together with a report on the general position of the Company.
94. No Shareholder, unless he be a Director, or a clerk, accountant, or other person in the employment of the Company, whose duty requires him so to do, shall be entitled to inspect the books, accounts, documents, or writings of the Company, except such as shall be produced by the Board for that pur- pose at any Meeting. Any Auditor may inspect such books, accounts, docu- ments and writings.
COMMISSION, DIVIDEND, AND RESERVE FUND.
95. In addition to his share of the renumeration mentioned in Article No. 80, each of the Managing Directors shall be entitled to a commission of three dollars and fifty cents per cent. on the net profits of the Company for each current year in which such net profits amount to seven dollars on the paid up capital, and to a commission of five dollars per cent. on such per cent. net profits for each current year in which they amount to ten dollars per cent. or upwards on the paid up capital.
96. The Board may at each Ordinary yearly Meeting declare such a dividend in respect of the shares as it shall think fit.
97. The Board may at any time declare an interim dividend in addition to the annual dividend herein before mentioned.
$2
21
42
98. The Board may before declaring any dividend set apart ont of the net profits of the Company such a sum as it thinks proper as a Reserve Fund to meet contingencies, or for equalizing dividends, or for maintaining all or any of the buildings, property, or effects of the Com- pany, or for such other purposes as it shall think fit, and may invest the same in or upon all, or any, or either of the modes of investment hereinbefore authorized by Article No. 86, and may from time to time vary or transpose any such investments.
99. No unpaid dividend shall bear interest as against the Com- pany.
100. The Board may deduct from any dividend payable to any Share- holder all sums of money due from him to the Company on any account whatsoever.
101. Notice of any dividend that is payable shall be given to the Share- holders entitled to receive the same, and any dividend unclaimed for two years after the same shall have become payable may be forfeited by the Board for the benefit of the Company, and be applied in such manner as it shall think fit.
AUDIT,
102. From time to time the accounts of the Company shall be examined and their correctness ascertained by two Auditors.
103. Any Shareholder or non-shareholder shall be eligible to be an Auditor.
Reserve Fund
Dividend not to carry interest,
Board sy deduct debts to Company.
Notice of drideud.
Unclaimed dividend.
Accounts to be andited.
Qualification of Auditors.
Auditors,
104. The Board shall appoint the first Auditors for the purpose of Apointment of first making a report at the first Ordinary Meeting, and those Auditors shall retire from office at that Meeting.
105. Every future Auditor, except as is hereinafter mentioned, shall be appointed at the Ordinary yearly Meetings of the Company by the Share- holders present thereat, and shall hold office until the next Ürdinary yearly Meeting.
106. Every retiring Auditor shall be eligible for re-election.
107. No person, not being a retiring Auditor, shall be eligible for the office of Auditor unless notice of an intention to propose him at an Ordinary yearly Meeting shall be given for not less than seven days prior to such Meeting, and a copy of every such notice shall be posted up at the office of the Company during the five days immediately preceding the Meeting,
Appointment of future Auditors.
Retiring Auditors eligible
for re-election.
Notice of intention to propose Auditor.
108. The remuneration of the Auditors shall be determined and may Remuneration of Auditors from time to time be varied by the Board.
103. If any casual vacancy shall occur in the office of Auditor the Board shall fill up the vacancy by the appointment of a person who shall hold office until the next Ordinary yearly Meeting.
110. Every Auditor shall at least ten days before every Ordinary yearly Meeting be supplied with a copy of the statement of accounts intended to be laid before the Meeting, and it shall be his duty to examine the same with the acocunts and vouchers relating thereto and vouch its accuracy.
Board to fill casual
vacancy,
Anitors to vouch accounts.
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