193704-1932-Supplementary-Bill-read-a-second-time--Companies — Page 139

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schedule or as altered in pursuance of that Ordinance, so far as the same applies to any company existing at the commencement of this Ordinance;

(3) Table A in the First Schedule to the Com- panies Ordinance, 1911, or any part thereof, either as originally contained in that Schedule or as altered in pursuance of section one hundred and nineteen of that Ordinance, so far as the same applies to any company existing at the commencement of this Ordi-

nance;

355. The provisions of this Ordinance with respect Saving of to winding up shall not apply to any company of pending which the winding up has commenced before the for winding proceedings commencement of this Ordinance, but every such up. company shall be wound up in the same manner and 19 & 20 Geo. with the same incidents as if this Ordinance had not 5, c. 23, passed, and, for the purposes of the winding up, the Ordinance or Ordinances under which the winding up commenced shall be deemed to remain in full force.

s. 383.

Ordinances

356. Nothing in this Ordinance shall affect the Saving of provisions of the Life Insurance Companies Ordinance, Nos. 11 of 1907, the Fire Insurance Companies Ordinance, 1908, 1907, or the Fire and Marine Companies Deposit Ordinance, of 1908, 1917.

and 32 of 1917.

357. This Ordinance shall come into force on the Commence- first day of July, 1933.

ment of Ordinance

SCHEDULES.

FIRST SCHEDULE.

TABLE A.

Sections 10, 114, 308,

REGULATIONS FOR MANAGEMENT OF A COMPANY LIMITED 347, 348.

BY SHARES.

Preliminary.

1. In these regulations:--

"The Ordinance" means the Companies Ordin-

ance, 1932.

When any provision of the Ordinance is referred to, the reference is to that provision as modified by any statute for the time being in force.

Unless the context otherwise requires, expressions defined in the Ordinance 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.

Shares.

2. Subject to the provisions, if any, in that behalf of the memorandum of association, and without pre- judice to any special rights previously conferred on the holders of existing shares, any share 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 from time to time by special resolution determine, and any preference share may, with the sanction of a special resolution, be issued on the terms that it is, or at the option of the com- pany is liable, to be redeemed.

3. If at any time the share capital is divided into different classes of shares, the rights attached to any flass (unless otherwise provided by the terms of issue of the shares of that class) may be varied with