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To sell, etc.
To make contracts.
Execution of deeds and signature of cheques.
The Seal.
Capitalis- ation of
profits and
correspond- ing new shares.
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(8) To sell, exchange, surrender, mortgage or deal with in any manner not herein otherwise pro- vided all or any part of the land, property, rights and privileges of the Company.
(t) Subject to the foregoing sub-clauses, to enter into all such negotiations and contracts, and rescind and vary all such contracts and execute and do all such acts, deeds and things in the name and on behalf of the Com- pany as they may consider expedient for or in relation to any of the matters afore- said, or otherwise for the purposes of the Company.
Execution of Deeds and Signature of Cheques
and the Seal.
120.-(a) Save as provided by Article 11 all deeds or instruments requiring the Seal of the Company in Hongkong, and also all cheques requiring signature shall be signed by two Directors and countersigned by the General Managers or by some other person appointed by the Directors.
(b) The Directors shall provide for the safe custody of the Seal of the Company.
(e) All signatures of the General Managers may be subscribed by such person or persons as may from time to time be thereunto authorised by the General Managers.
Capitalisation of Reserve Fund.
121.-(a) The Company in General Meeting may at any time pass a Resolution to the effect that it is desirable to capitalise any sum or sums of money being part of the undivided profits of the Company standing to the credit of the Company's Reserve Fund, and accordingly that such sum or sums be distributed as a bonus among the members in proportion to the shares held by them re- spectively, and that the Directors be authorised to dis- tribute among the members any unissued shares or new shares in like proportions.
(b) When any such Resolution as that referred to in the preceding paragraph shall have been passed the Dir-
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