58
59
༦༽༢
Publication of yearly statements.
Furnishing
of returus to the
Governor.
Notices
to share-
bolders to
30
Yearly Statements.
153. The Board, from time to time, as soon as can be after the expira- tion of every year ending the 31st day of December, shall make a general state- ment in writing, showing therein the amount of the then debts, liabilities, and engagements and of the assets, property, credits and securities of or belonging to the Bank, as well in Hongkong as elsewhere, and such statement shall include an account of the amount of the promissory notes of the Bank in circulation, and of the coin held in the several establishments of the Bank, such accounts of promissory notes and coin respectively being made from and according to the then last returns and information furnished to the Directors from the establishments of the Bank; and the Board shall send one copy of every such general yearly statement authenticated by the signatures of the Chairman of the Board, or of two Directors, and of the Chief Manager or Chief Accountant in Hongkong, to the Governor and shall immediately afterwards publish such statement in the Gazette and in such other newspapers circulating in the places where the business of the Board shall be carried on as the Governor may, from time to time, require; and shall also make and publish and cause to be made and published by the officers, servants and agents of the Bank, at the several establishments of the Bank, such further returns as to the amount of the promissory notes of the Bank in circulation at such establishments respectively, and the amount of coin and bullion held in such establishments respectively, as the Governor shall, from time to time. require; such returns to be made to such persons, and published in such manner as the Treasury shall direct, and the Board shall obey and cause to be obeyed by the officers, servants, and agents of the Bank at the several establish- ments of the Bank, all such rules as the Governor shall, from time to time, make for the verification of such returns and the inspection of the coin and bullion held in the establishments of the Bank by such person and in such manner as the Governor shall think fit.
154. The Board shall also, if and whenever so required by the Governor. produce and submit to him or to such persons as he shall appoint for that purpose for his or their inspection and examinations, the several returns from which such general yearly statement is prepared, and such further information as to the state and proceedings of the establishments of the Bank as the Governor shall, from time to time, require to be furnished.
Notice.
155.--(1) Any notice to be given by the Bank to shareholders either be given by generally or individually shall be sufficiently given by advertisement once at
least in one or more daily newspapers printed and circulating in the Colony.
advertise.
ment.
Proof of such notice.
Notices by shareholders to bank.
Transferee bound by notice.
How notice
to be signed.
How time
to be
counted.
(2) The production in any Court of Justice of any such newspaper con- taining any such advertisement shall be sufficient proof of the giving of any such notice as regards all persons and for every purpose.
156. Notices to be given on the part of shareholders to the Bank shall be left at or sent through the post to the Chief Manager and addressed to the Head Office.
157. Every person who by operation of law, transfer, transmission, or other means whatsoever, shall become entitled to any share, shall be bound by every notice in respect of such share which, previously to his name and address being entered upon the shareholders' register shall have been duly given to the party from whom he derives his title to such share.
158. The signature to any notice to be given by the Bank may be in writing or printed or lithographed or stamped.
159. Where a given number of days' notice, or notice extending over any other period, is required to be given, the date on which the advertisement first appears shall be counted in such number of days or other period.
31
Shareholders not entitled to certain information.
160. No shareholder shall be entitled to require discovery of or any information respecting any detail of the Bank's trading or banking business or any matter which is or may be a business secret or which may relate to the conduct of the business of the Bank if in the opinion of the Board it will be inexpedient in the general interests of the shareholders to give the information required.
Indemnity. Individual Responsibility.
Shareholder
not to be entitled
to certain confidential information.
161. Every Member of the Board, or of any Committee thereof, Member Indemnity
of directors, of any Local Committee, Chief Manager, Inspector, Manager, Sub-Manager, officers, etc. Agent, Sub-Agent, Chief Accountant, Accountant, or other European officer of the Bank, his heirs, executors and administrators shall be indemnified and saved harmless out of the funds of the Bank from and against all costs, charges. losses, damages, and expenses whatsoever, which any such person as afore- said may incur or become liable to by reason of any contract entered into, or act or thing done by him in the proper execution of his own respective powers, duties, office and trust; and every such person as aforesaid his heirs, executors and administrators shall be indemnified and saved harmless out of the funds of the Bank from and against all actions suits claims and demands whatsoever brought or made against him or them in respect of any engagement or any liability of the Bank, except such as may be incurred or occasioned by or through his own dishonesty or negligence.
No such person as aforesaid shall be answerable for the acts, receipts, neglects, or defaults of the other or others of them, or for joining in any receipt or other act for conformity, or for any person with or to whom any moneys or effects belonging to the Bank shall be lodged or deposited for safe custody or shall come, or for any loss or expense happening to the Bank through the insufficiency or deficiency of title to any property acquired by order of the Board for or on behalf of the Bank, or for the insufficiency or deficiency of, or for any defect of title of the Bank to any security in or upon which any of the moneys of the Bank shall be invested, or for loss, or damage arising from the bankruptcy, insolvency or tortious act of any person with whom any moneys, securities, or effects of the Bank shall be deposited or for any loss or damage occasioned by any error of judgment. omission, default or oversight on his part, or for any other loss damage or misfortune whatever which shall happen in the execution of the duties of his office, or in relation thereto, unless the same happen through his own dishonesty or negligence.
Arbitration.
any
162. Whenever any difference shall arise between the Bank on the one hand. and any of the Shareholders, their heirs, executors, administrators, or assigns, on the other hand, touching the true intent or construction of the Ordinance or of these regulations, or touching any act or thing to be done, omitted, or suffered, in pursuance of the Ordinance or these regulations, every such difference shall be referred to the arbitration of two arbitrators one to be appointed by each party and such arbitration shall be carried out in Hongkong under the provisions of the Code of Civil Procedure of Hongkong in the same way as if the Bank and any such shareholder had entered into a written agree- ment to submit any such difference to arbitration.
Individual
responsi- bility.
Arbitrators between the bank and shareholder
or successors.
Dissolution.
up
163. If and when it shall appear upon or be certified by any report of the auditors or any report of the Board that one-half of the Capital actually paid on paid.
has been lost in the course of business or otherwise, then and in any such case the Bank shall thereupon be ipso facto dissolved.
Dissolution
loss of
up capital.
No comments yet.
Private notes are available after approval.