113
Debts may
be deducted.
Effect of transfer.
Retention of dividend in certain cases.
Currency and rate of exchange of dividends. Payments to
joint holders.
Payment by post.
Unclaimed dividends.
Accounts to be kept.
Balance
sheets to be prepared every year.
Profit and
loss account,
balance sheet and auditors'
report to be
sent to shareholders
two days before meeting.
Profit and loss account
and balance
sheet may be
32
132. The Directors may retain any dividends upon which the Bank has a lien, and may apply the same in or towards satisfaction of the debts, liabilities, or engagements in respect of which the lien exists.
133. A transfer of shares shall not pass the right to any dividend declared thereon before the registration of the transfer.
134. The Directors may retain any dividend payable upon shares in respect of which any person is under the transmission clause entitled to become a shareholder, or which any person under that clause is entitled to transfer, until such person shall become a shareholder in respect thereof or shall duly transfer the same.
135. Dividends may be paid in such currency and at such rate of exchange as the Board may determine
136. Any one of several persons who are registered as the joint holders of any shares may give effectual receipts for all dividends and pay- ments on account of dividends in respect of such shares.
137. Unless otherwise directed by the Board any dividend may be paid by cheque or warrant sent through the post to the registered address of the shareholder entitled, or in case of joint holders to the registered address of that one whose name stands first on the shareholders' register in respect of the joint holding, and every cheque or warrant so sent shall be made payable to the order of the person to whom it is sent, and the pay- ment of any such cheque or warrant shall operate as a good discharge to the Bank in respect of the dividend represented thereby, notwithstanding that it may subsequently appear that the same has been stolen, or that the indorsement thereon has been forged,
138. All dividends unclaimed for one year after having been declared may be invested or otherwise made use of by the Board for the benefit of the Bank until claimed, and all dividends unclaimed for six years after having been declared may be forfeited by the Board for the benefit of the Bank.
Accounts.
139. The Directors shall cause true accounts to be kept of the sums of money received and expended by the Bank and of the matters in respect of which such receipt and expenditure takes place, and of the assets, credits and liabilities of the Bank and of all other matters necessary for shewing the true state and condition of the Bank.
140. The accounts of the Bank shall be balanced, and the financial state of the Bank shall be ascertained under the superintendence of the Board, once in every year, up to the 31st day of December in every year, or such other date as the Board may determine, and a profit and loss account and balance sheet, showing the financial state of the Bank up to and on the day of such balancing shall be made.
141. At least two days before the ordinary yearly general meeting a printed copy of the report of the Directors and of the profit and loss account and balance sheet as audited and of the auditors' report thereon, a copy of which shall be attached thereto, shall be sent by the Board to the registered address of every shareholder who has a registered address in the Colony.
142. A copy of the profit and oss account and balance sheet of the Bank from time to time intended for presentation to an ordinary yearly inerted by general meeting shall be open to the inspection of shareholders, at the Head Office, at all reasonable times in the day during two days before the meeting.
shareholders
before meeting.
No comments yet.
Private notes are available after approval.