17817-1910-Supplementary-Bills-read-a-first-time--Companies — Page 83

Saving for existing rules of procedure

&c.

s Edw. 7 c. 69 s. 290.

Substitution

of this Or-

532

(3) The existing registrar of companies shall during the pleasure of the Governor hold the office hitherto held by him but subject to any regulations of the Governor with regard to the execution of his duties.

266. Until revoked and except as varied under the powers of this Ordinance, the general rules and orders, and scales of fees, under the Companies Ordinances, in force at the commencement of this Ordinance with respect to the procedure for reduction of capital, and to winding up companies, and the practice and procedure for winding up companies in force at the commencement of this Ordinance, shall so far as they are not inconsistent with this Ordinance, continue in force.

267. Where any enactment repealed by this Ordinance of provisions is mentioned or referred to in any document, that documenf shall be read as if the corresponding provision (if any) ot this Ordinance were therein mentioned or referred to and substituted for the repealed enactment.

dinance for

provisions of repealed Or dinances. Ib. s. 291.

Saving for

Insurance

Companies Ordinances.

263. Nothing in this Ordinance shall affect the pro- Life and Fire visions of the Life Insurance Companies Ordinances, 1907 and 1909, the Fire Insurance Companies Ordinance, 1908, or the Fire Insurance Amendment Ordinance, 1908, except that references in those Ordinances to any provision of the Companies Ordinance, 1865, shall be read as re- ferences to the corresponding provision of this Ordinance.

Commence- ment of Or- dinance. [b. s. 296.

269. This Ordinance shall come into operation on the

day of

191

+

Sections 11,

12, 71, 248. 268,

SCHEDULES.

FIRST SCHEDULE.

TABLE A.

REGULATION FOR MANAGEMENT OF A COMPANY LIMITED BY SHARES,

Preliminary.

1. In these regulations, unless the context otherwise requires, expressions defined in the Companies Ordinance, 1910, or any statutory modification thereof in force at the date at which these regulations become binding on the company, shall have the meanings so defined; and words importing the singular shall include the plural, and vice rersâ, and words importing the masculine gender shall include females, and words importing persons shall include bodies corporate.

Business.

2. The directors shall have regard to the restrictious on the commencement of business imposed by section of the Companies Ordinance, 1910, if, and so far as, those restrie- tions are binding upon the company.

Shares.

3. Subject to the provisions, if any, in that behalf of the memorandum of association of the company, and without prejudice to any special rights previously conferred on the holders of existing shares in the company, any share in the company may be issued with such preferred, deferred, or other special rights, or such restrictions whether in regard to dividend, voting, return of share capital, or otherwise, as the company may form time to time by special resolution determine.