17817-1910-Supplementary-Bills-read-a-first-time--Companies — Page 84

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1. If at any time the share capital is divided into different classes of shares, the rights attached to any class (unless otherwise provided by the terms of issue of the shares of that cluss) may be varied with the consent in writing of the holders of three-fourths of the issued shares of that class or with the annetin of an extraordinary resolution passed at a separate general meeting of the holders of the shares of the class. To every such separato general meeting the provisions of these regulations relating to general meetings shall wutatis mutaudis apply, but so that the necessary quorum shall be two persons at least holding or respresenting by proxy oue-third of the issued shares of the class.

5. No share shall be offered to the public for subscrip- tion except upon the terms that the amount payable on application shall be at least five per cent, of the nominal amount of the share; and the directors shall, as regards any allotment of shares, duly comply with such of the provisions of sections 86 and 89 of the Companies Or- dinance, 1910, as may be applicable thereto.

6. Every person whose name is entered as a member in the register of members shall, without payment, be entitled to a certificate under the common seal of the company. specifying the share or shares held by him and the amount- paid up thereon, provided that in respect of a share or shares held jointly by several persons the company shall not be bound to issue more than one certificate, and delivery of a certificate for a share to one of several joint holders shall be sufficient delivery to all.

7. If a share certificate is defaced, lost, or destroyed, it may be renewed on payment of such fee, if any, not exceeding fifty cents, and on such terms,if any, as to evidence and indemnity as the directors think fit.

8. No part of the funds of the company shall be employee in the purchase of, or in loans upon the security of, thd company's shares.

Lien.

9. The company shall have a lien on every share (not being a fully-paid share) for all moneys (whether prescutly payable or not) called or payable at a fixed time in respect of that share, and the company shall also have a lien on all shares (other than fully-paid shares) standing registered in the name of a single person, for all moneys presently payable by him or his estate to the company; but the directors may at any time de clure any share to be wholly or in part exempt from the provisions of this clause. The company's lien, if any, ou a share shall extend to all dividends payable thereon.

10. The company may sell, in such manner as the direc tors think fit, any shares on which the company has a lien, but no sale shall be made unless some sum in respect of which the lion exists, is presently payable, uor until the expiration of fourteen days after a notice in writing, stating and demanding payment of such part of the amount in respect of which the lien exists as is presently payable, has been given to the registered holder for the time being of the share, or the person entitled by reason of his death or bankruptcy to the share.

11. The proceeds of the sale shall be applied in payment of such part of the amount in respect of which the lien exists as is presently payable, and the residue shall (subject to a like lien for sums not presently payable as existed upon the shares prior to the sale) be paid to the person entitled to the shares at the date of the sale. The purchaser shall be registered as the holder of the shares, and be shall not be bound to see to the application of the purchase money, nor shall his title to the shares be affected by any irregularity or invalidity in the proceedings in reference to the sale.

Calls on Shares.

12. The directors may from time to time make calls upon the members in respect of any moneys unpaid ou their shares, provided that no call shall exceed one-fourth of the nominal amount of the share, or be payable at less