566719-1929-Supplementary-Advertisements — Page 10

Power to increase capital.

Terms and conditions of new issue.

When to bo offered to

existing

shareholders.

How far new shares

to rank as

original capital.

Numbering of shares.

Share ir divisible

Trusts not recognized.

Title by registration.

Claimant

barred foar years after death or incapacity, unless

infont.

234

Increase of Capital.

9. (1) Subject to the provisions of section 7 of the Ordinance the shareholders in general meeting may, from time to time, increase the capital by the creation of new shares of such amount as may be deemed expedient.

(2) The new shares shall be issued upon such terms and conditions, and with such rights and privileges annexed thereto, as the general meet- ing resolving upon the creation thereof shall direct, and if no direction. be given, as the Board shall determine; and in particular such shares may be issued with a preferential or qualified right to dividends and in the dis- tribution of the assets of the Bank, and with a special or without any right of voting.

(3) The shareholders in general meeting may, before the issue of any new shares, determine that the same, or any of them, shall be offered in the first instance, and either at par or at a premium, to all the then shareholders or any class thereof in proportion to the amount of the capital held by them, or make any other provisions as to the issue and allotment of the new shares; but, in default of any such determination, or so far as the same shall not extend, the new shares may be dealt with as if they formed part of the shares in the original capital.

(4) Except so far as otherwise provided by the conditions of issue, or by these presents, any capital raised by the creation of new shares shall be considered part of the original capital, and shall be subject to the provi- sions herein contained with reference to the payment of calls and instal- ments, transfer and transmission, forfeiture, lien, voting, and otherwise.

ber.

Shares.—Miscellaneous provisions.

10.--(1) Every share shall be distinguished by its appropriate num-

(2) Every share shall be indivisible.

(3) No notice of any trust, express, implied, or constructive, shall be entered on any register, and the Bank shall be entitled to treat the regis- tered holder of any share as the absolute owner thereof, and accordingly shall not except as ordered by a Court of Justice be bound to recognise any equitable or other claim to or interest under such share on the part of any other person.

(4) Subject to the provisions of these regulations as to joint holders, every person, from time to time entered in the register of shareholders as the holder of any share, shall unless and until his share be by operation of law or otherwise vested in some other person and unless and until the title of such other person is proved and established to the satisfaction of the Board under Regulation 51, be recognised and treated by the Bank as the sole lawful and rightful owner and holder of such share, and any other per- son entitled to or claiming to be owner or holder of such share, or to he entered as the holder thereof, shall not have any claim against the Bank in respect thereof, but shall claim only against the person so entered and his representative.

(5) If any shareholder die or become an incapacitated shareholder, and any share of such deceased or incapacitated shareholder be not within four years after the decease or incapacity of the shareholder claimed by a lawful claimant of the share, so as to entitle him to be entered according to these presents in the register of shareholders as the holder of the share, then the share and all dividends accruing thereon after the decease or in- capacity of the deceased or incapacitated shareholder, and all other rights and interests in respect of the share as from such decease or incapacity, shall be liable to forfeiture for the benefit of the Bank, and the same may be declared by the Board to be forfeited accordingly. Provided that this subsection shall not apply to the case of an infant shareholder, while he is an infant.

Page 10Page 11