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To invest.
To provide houses and offices.
To appoint officers, clerks etc.
To appoint, and send to any place any direc-
tors with
certain
powers.
To appoint, either tem. porarily or permanently, officers or servants of the bank for special duty.
To delegate powers to dit ectors and others,
To appoint Trustees.
To bring and defend etc., actions.
To com. pound debts.
To refer to arbitration.
To appoint person to act for bank re bankruptcies
etc.
(5) To invest and deal with any moneys of the Bank not imediately re- quired for the purposes thereof upon such securities and investments (not being shares in the Bank) and in such manner as they may think fit, and from time to time to vary or realize such securities and investments.
(6) To provide for the Head Office and the other establishments of the Bank in all parts of the world, and for the Bank's Chief Manager, Managers or other employees such houses and premises as the Board thinks suitable, and to permit the same or such parts thereof as the Board think proper to be used as residences or offices of any of the Officers and employees of the Bank and also generally to purchase, take on lease, or otherwise acquire any lands, buildings, or premises, property, rights, privileges or things for all or any of the purposes of the Bank or which it may be deemed convenient to acquire and hold for or in connection with any such purposes at such prices whether of a pecuniary nature or not and generally on such terms and con- ditions as the Board thinks fit.
(7) To appoint, and at its discretion, remove or suspend, any Chief Manager, Managers, Inspectors, Sub-Managers, Agents, Sub-agents, Chief Accountant, Accountants, Sub-accountants, Compradores, Shroffs. Officers, clerks and servants for permanent, temporary, or special services, as the Board may from time to time think fit, and to invest him or them with such powers and duties as the Board may think expedient, and to determine their duties and to fix their salaries or emoluments, and to require and take security in such instances and to such amount as the Board may think fit.
(8) To appoint and send to any place where the business of the Bank is authorised to be carried on, one or more of the Directors, with such powers of inspection, control, and regulation of the business or affairs of the Bank, and such other powers, and with such instructions and subject to such con- ditions and restrictions as the Board thinks fit, and to allow such remunera- tion as the Board thinks fit, and to revoke or suspend any such appointment.
(9) To appoint and send either temporarily or permanently to any such place as aforesaid, any Officers or servants of the Bank, in any capacity which the Board thinks expedient. for any of the business or affairs of the Bank, and to allow them such remuneration as it thinks fit, and to revoke or suspend any such appointment.
(10) To delegate to any such Directors, or Officers or servants of the Bank respectively any of the powers of the Board by a power of attorney or deed under seal, and to invest them respectively with any such powers as the Board in its discretion think expedient for the due conduct, management, and regulation of any of the business or affairs of the Bank.
(11) To appoint any person or persons (whether incorporated or not) to accept and hold in trust for the Bank any property or assets belonging to the Bank, or in which it is interested, or for any other purposes, and to execute and do all such deeds and things as may be requisite in relation to any such trust and to provide for the remuneration of such Trustee or Trustees.
(12) To institute, conduct, defend, compromise or abandon any legal or other proceedings or claims by or against the Bank, or its Officers or ser- vants, or otherwise concerning the affairs of the Bank, and also to compound and allow time for payment or satisfaction of any debts due and of any claims or demands by or against the Bank.
(13) To refer any claims or demands by or against the Bank to arbitra- tion, and to observe and perform the awards.
(14) To determine who shall make proofs of debt and otherwise act on behalf of the Bank in cases of bankruptcies and insolvencies and windings-up of companies or other administrations of assets.
In default of such determination the local Manager shall act.
Way of
(15) To execute in the name and on behalf of the Bank, in favour of To give any Director or other person, who may incur or be about to incur any per- security by sonal liability, whether as principal or surety, for the benefit of the Bank, indemnity. such mortgages, charges and other securities of the Bank's property and on the Bank's property and assets (present and future) as the Board may think fit, and any such instrument may contain a power of sale and such other powers, covenants and provisions as may be agreed on.
(16) To give to any Chief Manager, Director or Officer or other person To give employed by the Bank a commission on the profits of any particular business commissions or transaction, or a share in the general profits of the Bank, such commission or share of profits to be treated as part of the working expenses of the Bank, and to pay commission and make allowance to any person introducing busi- ness to the Bank, or otherwise promoting the interests thereof.
books for
(17) To provide sufficient and proper books distinguished by such To keep names as the Directors shall prescribe, which shall he kept under the super-bank's intendence of the Directors, in which full and sufficient entries shall be business. made of all payments, liabilities, receipts, and credits of or on account of the Bank and its customers, and all matters properly the subject of debt and credit, account, receipt or payment, in which the Bank may be interested, so that the financial state of the Bank may at all times appear in and from such books as accurately and clearly as circumstances permit.
returns.
(18) From time to time, if and whenever the Board may be required To furnish so to do by the Governor of the Colony, to produce and submit to him or to such persons or officers as he may appoint for the purpose, for his or their inspection or examination, the several accounts and statements which by these regulations are required to be made and furnished to the shareholders.
To have control of funds of
(19) From time to time, as the Board may think fit, to direct, control, and provide for the receipt, custody, and issue, investment, management, remittance, and expenditure of the moneys and funds of the Bank, and from bank. time to time to determine who shall make and give receipts, releases and To authorise other discharges for and on behalf of the Bank for money payable to the give receipts Bank and for the claims and demands of the Bank.
persons to
etc. for the bank.
(20) From time to time to determine who shall be entitled to accept, To authoris endorse, sign and execute on the Bank's behalf, bills of exchange, promis- acceptances siory notes, bills of lading, dividend warrants, debentures, receipts, accep- tures. tances, indorsements, cheques, releases, contracts and documents.
(21) To employ such agents or brokers and other persons as they may think necessary for furthering the interests of the Bank and its customers, and pay such salaries, commissions or other remuneration as the Board may deem reasonable.
(22) To accept such security for the fulfilment of any contracts or engagements entered into with the Bank as the Board may think fit.
and signs-
To employ Agents,
brokers, etc..
To accept security.
and
(23) In the discretion of the Board. before recommending any divid- To establish end, to set aside out of the profit of the Bank such sums as the Board administer thinks proper as a reserve, or reserve fund or carry forward, to be added reserve. to the existing reserve or carry forward, and to apply such sums or any part or parts thereof to meet contingencies or to equalise dividends, or for special dividends or bonuses, or to repair improve and maintain or add to any of the property or assets of the Bank, or for such other purposes as the Board shall in its absolute discretion think conducive to the interests of the Bank, and to invest the several sums so set aside upon such investments (subject to regulation 5) as the Board may think fit without being liable for any loss in or depreciation of such investments, whether the same be usual or authorised investments for trust funds or not, and from time to time to deal with and vary or realise such investments and dispose of all or any part thereof for the benefit of the Bank, and to divide the reserve or reserve funds for the time being into such special funds as the Board may think fit, with full power to employ all or any part of the assets constituting any re- serve or reserve funds or carry forward in the business of the Bank, and that without being bound to keep the same separate from the other assets.
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