54
42
Table of Correspondence
Between
The Bill, Ordinance No. 2 of 1856, and Ordinance No. 2 of 1924.
43
Subject Matter.
Bill.
Ord. 2 of 1866
Ord. 2 of 1924
Remarks.
Subject Matter.
Bill.
Ord. 2 of 1866
Ord. 2 of 1924
Short title
1
Interpretation
2
Incorporation
and
Period of Incor-
poration
3
3, 4 (2) 17
New Regulations of
the Bank
4
10 and 11
Objects of the Bank
5
4 (1)
Power to sell and
convert property taken as security
21
Present capital. In-
crease of capital
7
5, 22
Remarks.
Saving of rights of the Crown and cer- tain other rights
19
30
Conditions of note issue.
12 (3)
Deed of Settlement Art. 2.
1
The currencies at the different places differ
and values
the
vary.
exchange This clause is not feasible in practice.
1 1 1
Conditions of note issue.
12 (4)
This clause is super- fluous.
Deed of Settlement
Art. 12.
Right of note issue suspended if pay- ment suspended
15
Alteration of Capital
Re-organization
Capital
of
9
Based on Secs. 41 and
45 of the Eng. Com- panies Act, 1908.
Do.
Power to convey land
in Mortmain Company
to
18
Notification of pur-
chase & resale of lands
19
Power to use bearer
notes
10
12 (1) (2)
Prohibition of pur-
chase of lands, etc.....
20
Amount of security
for note issue
11
13
Liability of shareholders
12
12 (5) (6)
25 and 26
Forms of Contract
13
New
Production of accounts
and statements
Provision for repeal
24
AEROTRUS
of Ord. on happen-
Bills of Sale and Pro-
missory Notes
ing of certain events.
27
14
New
If the Bank suspend- ed payment of its note no one would accept a new issue. The clause is superfluous.
In view of the last sentence in Clause 3 this clause is super- fluous.
In view of modern requirements this re- spective clause is im- practicable.
In view of modern requirements this re- spective clause is im- practicable.
This is covered by Regulations 153 & 154.
This is unnecessary.
See Clause 17 of Bill.
Power to extend period
Limit of accommoda-
of incorporation
29
See Clause 3 of the
tion to
directors
Bill.
and officers
15
16
Limit of total debts
and liabilities
16
14
Winding Up of Com-
pany
17
28 (1) (2)
28 (3) Superfluous.
Repeal of Ord. 2 of
1866 and 2 of 1924...
18
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