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may from time to time require as to the identity of the person siguing the request, and on receiving the certificate, if any, of the share, and the amount of the stamp duty on the warrant and such fee as the directors may from time to time requiro, issue under the company's seal a warrant, duly stamped, stating that the bearer of the warrant is entitled to the shares therein specified, and may provide [] coupons, or otherwise for the payment of dividends, or by other moneys, on the shares included in the warrant.
36. A share warrant shall cutitle the bearer to the shares included in it, and the shures shall be trans- ferred by the delivery of the share warrant, and the pro- visions of the company with respect to transfer and trausmission of shares shall not apply theroto,
37. The heurer of a share warrant shall, on surrender of the warrant to the company for cancellation, and on payment of such smm as the directors may from time to time prescribe, be ontitled to have his mane entered as a member in the register of members in respect of the shares included in the warrant.
38. The bearer of a share warrant way at any time deposit the warrant at the office of the company, aud so long as the warrant romains so deposited the depositor shall have the same right of signing a requisition for enlling a meeting of the company, and of attending and voting and exercising the other privileges of a member at any moeting beld after the expiration of two clear days from the time of deposit, as if his name were inserted in the register of members as the holder of the shares included in the deposited warrant, Not more than one person shall be recognised as depositor of the share warrant. The company shall, on two days' written notice, return the depositesi share warrunt to the depositor.
39. Subject as herein otherwise expressly provided un person shall, as hearer of a share warrant, sign a requisition for calling a meeting of the company, or attend, or vote, or exercise any other privilege of a member at a meeting of the company, or be entitled to receive any notices from the company; but the bearer of a share warrant shall be entitled in all other respects to the same privileges and advantage as if he were marned in the register of members as the holder of the shares incimled in the warrant, and he shall be a member of the company.
40. The directors may from time to time mako rules as to the terms on which (if they shall think fit) a new alare warrant or coupon may be issued by way of renewal in case of defacement, loss, or destruction.
Alteration of Capital,
41. The directors may, with the sunction of an extra- ordinany resolution of the company, increase the share capital by such sum, to be divided into shares of such amount, as the resolution shall presribe.
42. Subject to any direction to the contrary that may be given by the resolution sanctioning the increase of share capital, all now stures shall, before issue, be offered to such persons as at the date of the offer are entitled to receive notices from the company of general meetings in proportion, as uently as the circumstances admit, to the amount of the existing shares to which they are entitled. The offer shall be unde by notice specifying the number of shares offerui, and limiting time within which the offer, if not accepted, will be deemed to be decline, ani, after the expiration of that time, or on the receipt of an intima- tion from the person to whom the offer is made that he declines to accept the shares offered, the directors may dispose of the same in such immer as they think most beneficial to the company. The directors may likewise so dispose of any new shares which (by reason of the ratio which the new shures bear 10 shares held by persons entitled to an offer of new shares) cannot, in the opinion of the directors, he conveniently offered under this article. 43. The new shares shall be subject to the same provi- sions with reference to the payment of calls, lien, transfer, transmission, forfeiture, and otherwise as the shares in the original share capital.
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44. The company way, by special resolution--
(a) Consolidate and divide its share capital into shares of larger amount than its existing shares:
( By subdivision of its existing shares, or any of then, divide the whole, or any part, of its share capital into shares of smaller amount than is fixed by the meineranian of association, subject, nevertheless, to the provisions of para- graph (d) of subsection (1) of section 42 of the Companies Ordinance, 1911:
(e) Cancel any shares which, at the date of the passing of the resolution, have not been taken or agreed to be taken by any persou
(d) Reduce its share capital in any manner and with, and subject to, any incident authorised, and consent required, by law.
General Meetings,
45. The statutory general meeting of the company shall
he hold within the period required by section 65 of the Companies Ondinaves, 1911,
46. A goueral meeting shall be held once in every year at such time (not being more than fiftoon months after the holding of the last preceding general meeting) and place as may be prescribed by the company in general meeting, or, in default, at such time in the month following that in which the anniversary of the company's incorporation occurs, and at such place, as the directors shall appoint. In defans of a general meeting being so bell, a general meeting shall be held in the month next following, and may be convened by any two newlers in the same manner as nearly as possible as that in which meetings are to be convened by the directors.
47. The above-mentioned general meetings shall be called ordinary meetings; all other general meetings shall be called extraordinary.
48. The directors way, whenever they think fit, convene an extraordinary general meeting, and extraordinary general weetings shall also be convened on such requisition, or, in dofault, may be convened by such requisitionists, as provided by section 67 of the Companies Ordinance, 1911. If at any time there are not in the place where the company has its head office suffieiont directors capable of acting to form a quoruin, suy director or any two mom- bers of the company may convene sa extrontiury general meeting in the same manner as nearly as possible as that in which meetings may be convened by the directors.
Proceedings at General Meeting.
49. Seven days' notice at the lenst (exclusive of the day on which the notice is served or deemed to be servel, int inclusive of the day for which notice is given) specifying the place, the day, and the hour of meeting and, in case of special business, the general unture of that business shall be given in wanner hereinafter mentioned, or in such other manner, if any, as may be prescribed by the company in general meeting, to such persons as are, auder the regula- tions of the company, entitled to receive such notices from the company; but the non-receipt of the notice by any member shall not invalidate the proceedings at any geners! meeting.
50. All business shall be deemed special that is trans- acted at an extraordinary meeting, and all that is trans- acted at an ordinary meeting. with the exception of sanctioning a divident, the consideration of the accounts, balance sheets, and the ordinary report of the directore and auditors, the election of directors and other officers in the place of those rotiring by rotation, and the fixing of the remuneration of the auditors.
51. No business shall be transacted at any general meet- ing unless a quorum of members is present at the time when the meeting proceeds to business; save as berein otherwise provided, three members personally present shall be a quorun.
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