CO129-520-7 Public Utility companies- acquisition by foreign groups 4-12-1929 - 26-1-1930 — Page 138

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ectors may allot and issue to the members as nearly as may be in proportion to the shares held by them respectively and in satisfaction of the said bonus the unissued shares or new shares credited as paid up shares to the extent of the proportionate amount payable to such members in respect of the Reserve Fund with full power to make such provisions by the issue of fractional certificates or other- wise as they may think expedient for the case of fractions, and prior to such allotment the Directors may authorise any person on behalf of the members to enter into any Agreement with the Company providing for the allot- ment through them of such shares credited as paid up shares as aforesaid, and in satisfaction as aforesaid, and any Agreement made under such authority shall be effective.

Annual Returns.

122. The Directors shall make the requisite Annual Annual Returns in accordance with Section 27 of the Companies Returns. Ordinance, 1911.

Writing Off.

123. The Directors shall every year write off for Writing off. depreciation such sum (if any) as they shall think fit upon the book value of the land, buildings and other assets of the Company.

Dividends.

124. Subject as aforesaid the profits of the Company Disposition for the time being available for dividend may be divided of profits. amongst the members in proportion to the capital paid up on the shares held by them respectively.

125. Where capital is paid up in advance of calls Capital paid upon the footing that the same shall carry interest such in advance. capital shall not whilst carrying interest confer a right to participate in the profits.

126. The Directors may, with the sanction of the Declaration Company in General Meeting, declare a dividend to be of dividends paid to the members according to their rights and interests and bonus. in the profits, and may fix the time of payment.

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