CO129-395 - Public Offices - 1912 — Page 468

Lira, 100

464

to or

(2) If at any time the proportion of

directors who are British subjecta resi-

dent within the limits of this Order falls

Abelow one half, it shall be the duty of

the directors, and also of the share-

holders, of the company to take within

thirty days, or such further period as the

Court may allow, all necessary steps for

the appointment of such number of direc-

tors who are British subjects resident

within the limits of this Order as may be

necessary to comply with the provisions

of this article.

(3) If default is made in compli-

ance with this Article the company shall

be liable to a fine not exceeding 50

dollars for every day during which the

default continues, and every director and

manager of the company who knowingly

authorizes or permits the default shall

be liable to the like penalty.

(4) Failure to comply with the pro-

visions of this article shall be a ground

upon which an order for winding up the

company