CO129-436 - Acting Governor Claud Sever & Governor Sir May & Public Offices - 1916 [11-12] — Page 247

245

Mortgage of uncalled capital.

Second charges.

Statutory meeting to be held.

When subsequent general meetings to be held.

36

with the requirements of Section 95 of the said

37

Ordinance, in regard to the registration of mortgages preceding clause shall be called "Ordinary Yearly!

104. The General Meetings referred to in the last Distinction

All other meetings of the Company

and charges therein specified and otherwise.

Meetings."

cluded in or charged by any mortgage or other security,

If any uncalled capital of the Company is in. be called "Extraordinary Meetings.”

between ordinary and shall extraordin-

ary meeting.

meeting to be

the Directors may, by instrument under the Company's they shall upon the requisition of the holders of not ordinary

Seal, authorize the person in whose favour such mort- gage or security is executed, or any other person trust for him, to make calls on the members in respect in of such uncalled capital, and the provisions herein- before contained in regard to calls shall, mutatis mutandis, apply to calls made under such authority, and such authority may be made exercisable either conditionally or unconditionally, and either presently or contingently, and either to the exclusion of the Directors' power or otherwise, and shall be assignable ; if expressed so to be.

IOI. Where any uncalled capital of the Company is charged, all persons taking any subsequent charge thereon shall take the same subject to such prior charge, and shall not be entitled, by notice to the members or otherwise, to obtain priority over such prior charge.

General

Meetings.

102. A General Meeting of the Company shall as required by Section 66 of the Companies Ordinance 1911 be held at such time not being less than one month nor more than three months after the date at which the Company shall be entitled to commence business and at such place as the Directors may determine and the Directors shall comply with the other requirements of that section as to the report to be submitted and otherwise.

103. Other General Meetings shall be held once at least in the year of the Company's incorporation and in every subsequent year at such time and place as the Board

may from time to time determine provided that every such Meeting shall be held within fifteen months of the last preceding General Meeting.

105. The Directors may whenever they think fit and When extra- less than one-tenth of the issued capital of the Com- called. pany upon which all calls or other sums then due have been paid forthwith proceed to convene an Extraordinary Meeting of the Company and in the case of such requisition the following provisions shall Requisition. have effect:-

(1). The requisition shall specify the objects of the meeting and shall be signed by the requisi- the tionists and shall be deposited at Registered Office, and may consist of several documents in like form, each signed by one or more of the requisitionists. The meeting must be convened for the purpose specified in the requisition, and if convened otherwise than by the Directors, for those purposes only. (2). If the Directors, for fourteen days after such deposit fail to convene an Extraordinary Meeting to be held within twenty-one days from the time of such deposit the requisition- ists or a majority of them in value may themselves convene a meeting but any meeting so convened shall not be held after three months from the date of such deposit.

a

(3). If at any such meeting a resolution requiring confirmation at another meeting is passed the Directors shall forthwith convene further Extraordinary Meeting for the pur- pose of considering the resolution and if thought fit of confirming it as a Special Resolution and if the Directors do not con- vene the meeting within seven days from the date of the passing of the first resolution the requisitionists or a majority of them in value may themselves convene the meeting.