2
And Whereas by Clause 11 of the said Supplemental Charter of the 1st day of September, 1902, (hereinafter referred to as the Sixth Supplemental Charter), His said late Majesty autho- rized the said Company during the period for which the said Company should remain incorporated to issue and bave in actual circulation Promissory Notes of the said Company to an amount in excess of the limit (fixed by the then existing Charters) of eight million dollars if there should have been specially deposited and should be kept in the custody of the Colonial Secretary and the Colonial Treasurer of Hong Kong for the time being an amount of coin or bullion or coin and bullion equal to the whole value of such excess issue for the time being actually in circulation to be held by the said Colonial Secretary and Colonial Treasurer of Hong Kong exclusively for the redemption of such Promissory Notes whorever the same might have been issued; and it was thereby provided that the said power of excess issue should cease and determine on notice to that effect being given at any time by the Commissioners of Our Treasury (hereinafter referred to as the Treasury) to the said Company:
And Whereas We deem it expedient to revoke the said Clause and to make other provisions in lieu thereof:
Now know pt that We Do by these Presents Will and Ordain that from and after the date of this Our Supple- mental Charter Clause 11 of the Sixth Supplemental Charter shall be and is hereby revoked and the following Clause shall from and after the date of this Our Supplemental Charter be substituted for the Clause so revoked :-
1. We Do Therefore hereby further Will and Ordain that the said Company may during the period for which the said Company shall remain incorporated issue and have in actual circulation Promissory Notes up to the total amount of twenty anillion dollars and with due notice to the Treasury up to the total amount of thirty million dollars beyond which no issue shall be made. Provided that (in addition and without prejudice to the deposit required to be made by the Fifth Supplemental Charter in respect of notes issuable by the said Company up to the amount of eight million dollars as aforesaid) there shall have been specially deposited and shall be kept deposited either with the Crown Agents for Our Colonies in London or with Trustees to be appointed by the Treasury or partly with auch Crown Agents and partly with such Trustees coia of denominations to be approved by the Treasury or bullion or securities to be so approved or partly such coin and partly such bullion and securities equal to the whole value of such notes for the time being actually in circulation in excess of eight million dollars such coin or bullion or securities or such coin and bullion and securities to be held by the said Crown Agents or by the said Trustees separately or jointly as
3
special fands exclusively available for the redemption of the Promissory Notes issued by the said Company wherever the same may have been issued."
2. And Whereas application has been made to Us by the said Company for such an amendment of the Original Charter as will enable the said Company in addition to carrying on the said business of banking to carry on such trustee and executor business as is next hereinafter particularised; and it has been represented to Us that Our Royal Supplemental Charter might be granted with advantage to the public empowering the said Company to carry on such trustee and executor business.
3. Now We Do hereby further Will and Ordain that it shall be lawful for the said Company in addition to carrying on the said business of banking to carry on (in any places where the said Company is empowered to carry on business or to establish Branch Banks or Agencies) as part of the business of the said Company and in conformity with the provisions of the Original Charter and the Supplemental Charters trustee and executor business that is to say-To act as executors and administrators and trustees and to undertake and execute trusts of all kinds whether private or public including religious or charitable trusts and to transact all kinds of trust and agency business either with or, if the said Company so desire, without remunera- tion and in particular and without limiting the generality of the above to act as judicial and custodian trustees, trustees for the purposes of the Settled Land Acts, trustees for the holders of debentures and debenture stock, administrators of the property of convicts, receivers, managers and liquidators and to perform and discharge the duties and functions incident thereto. In Witness whereof We have caused these Our Letters to be made Patent.
Witness Ourself at Westminster the
of
day
in the Twelfth year of Our Reign.
Printed under the authority of His Majesty's STATIONERT OPTICE By Eyre and Spottiswoods, Ltd., East Harding Street, B.C. 4.
Printers to the King's most Excellen Majesty 1922.
130
No comments yet.
Private notes are available after approval.