Permanent General Manager to keep books, etc.
Permanent General Manager
to prepare reports, etc.
Seal, custody of.
Execution of deeds.
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upon him but in default thereof the Permanent General Manager shall have power and authority on behalf of the Company to generally manage and carry on the ordinary business of the Company and for that purpose to sign Bills of Exchange, Promissory Notes, Cheques, Drafts, or Orders on the Bankers of the Company, (provided that all Bills of Exchange Promissory Notes, Cheques, Drafts or orders on the Bankers of the Company shall be countersigned by one of the Directors) and to enter into any Contract or Contracts reasonably necessary for the purpose of carrying on the said business, and shall have power to engage and dismiss all Masters, Mates, Engineers and Crew, servants, and Clerks of the Company and to do all such other acts and things which they may consider necessary or conducive to the interests of the Company.
(2) The Permanent General Manager shall keep all such books records and Registers in Hongkong as are by these Articles or by the ordinances required to be kept by the Company and he shall also keep proper accounts and books wherein all business transactions relative to the Company shall be truly fairly and duly entered.
138. The Permanent General Manager shall, under the supervision of the Board prepare, and if the Directors so direct, print and distribute amongst the members all such reports, statements of accounts of the business transacted and the receipts and expendi- ture of the Company as are required under these articles, and as the Board shall think necessary.
139. The Permanent General Manager, and in the event of there being no Permanent General Manager for the time being, the Directors, shall provide for the safe custody of the Common Seal of the Company and the seal shall never be used without the authority of the Directors or a Committee of the Directors previously given.
140.-(1) The seal of the Company shall be affixed to all deeds or instruments required to be executed by the Company and every such deed or instrument shall
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also be signed by two of the Directors and by the Permanent General Manager or by the General Manager in the event of there being no Permanent General Manager.
attorney.
(2) The Company may, by writing under its seal, Execution of empower the Permanent General Manager or if there deeds by be no Permanent General Manager the General Manager or if there be a Temporary General Manager appointed under the provisions of article 135 sub-article two then that General Manager either generally or in respect of any specified matters, as its attorney, to execute deeds and instruments on its behalf and to enter into contracts and sign the same on its behalf in any place and every deed signed by such attorney, on behalf of the Company, and under his seal shall bind the Company, and have the same effects as if it were under the seal of the Company.
General Manager.
141. The remuneration of the Permanent General Remunera- Manager or if a temporary General Manager is tion of appointed under the provisions of Article 134 shall be fixed by agreement in writing with the Board of Directors.
142. Any subsequent General Manager shall be Remunera- paid such remuneration for his services
as the tion of
subsequent Company in General Meeting shall from time to General time determine, and pending such determination, Manager. as the Directors shall think fit.
from
143. The said Donald Macdonald or his nominee Notice of shall not resign the office of Permanent General Manager withdrawal without giving to the Board of Directors three calendar months previous notice of such his intention.
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management.
144. No regulations made by the Company in Regulations General Meeting shall invalidate any prior act of the not to Board of Directors or of the Permanent General invalidate
prior acts of Manager or General Manager if and when appointed Directors. which would have been valid if such regulations had not been made.
145. The Directors may from time to time entrust Office to and confer upon the Permanent General Manager Expenses. or General Manager for the time being such of the powers exercisable under these Articles by the
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