566758-1929-Supplementary-Advertisements — Page 28

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(15) To execute in the name and on behalf of the Bank, in favour of any Director or other person, who may incur or be about to incur any per- sonal liability, whether as principal or surety, for the benefit of the Bank, such mortgages, charges and other securities of the Bank's property and on the Bank's property and assets (present and future) as the Board may think fit, and any such instrument may contain a power of sale and such other powers, covenants and provisions as may be agreed on.

To give

security by

way of

indemnity.

To give

(16) To give to any Chief Manager, Director or Officer or other person employed by the Bank a commission on the profits of any particular business commissions or transaction, or a share in the general profits of the Bank, such commission or share of profits to be treated as part of the working expenses of the Bank, and to pay commission and make allowance to any person introducing busi- ness to the Bank, or otherwise promoting the interests thereof.

(17) To provide sufficient and proper books distinguished by such names as the Directors shall prescribe, which shall be kept under the super- intendence of the Directors, in which full and sufficient entries shall be made of all payments, liabilities, receipts, and credits of or on account of the Bank and its customers, and all matters properly the subject of debt and credit, account, receipt or payment, in which the Bank may be interested, so that the financial state of the Bank may at all times appear in and from such books as accurately and clearly as circumstances permit.

To keep bank's

books for

business.

returns.

(18) From time to time, if and whenever the Board may be required To furnish so to do by the Governor of the Colony, to produce and submit to him or to such persons or officers as he may appoint for the purpose, for his or their inspection or examination, the several accounts and statements which by these regulations are required to be made and furnished to the shareholders.

(19) From time to time, as the Board may think fit, to direct, control, and provide for the receipt, custody, and issue, investment, management, remittance, and expenditure of the moneys and funds of the Bank, and from time to time to determine who shall make and give receipts, releases and other discharges for and on behalf of the Bank for money payable to the Bank and for the claims and demands of the Bank.

(20) From time to time to determine who shall be entitled to accept, endorse, sign and execute on the Bank's behalf, bills of exchange, promis- siory notes, bills of lading, dividend warrants, debentures, receipts, accep- tances, indorsements, cheques, releases, contracts and documents.

To have control of bank.

funds of

To authorise give receipts

persons to

etc. for the bank.

To authorise acceptances tures.

and signa-

Agents,

brokers, etc.

(21) To employ such agents or brokers and other persons as they may To employ think necessary for furthering the interests of the Bank and its customers, and pay such salaries, commissions or other remuneration as the Board may deem reasonable.

(22) To accept such security for the fulfilment of any contracts engagements entered into with the Bank as the Board may think fit.

or

To accept security,

(23) In the discretion of the Board, before recommending any divid- end, to set aside out of the profit of the Bank such sums as the Board thinks proper as a reserve, or reserve fund or carry forward, to be added to the existing reserve or carry forward, and to apply such sums or any part or parts thereof to meet contingencies or to equalise dividends, or for special dividends or bonuses, or to repair improve and maintain or add to any of the property or assets of the Bank, or for such other purposes as the Board shall in its absolute discretion think conducive to the interests of the Bank, and to invest the several sums so set aside upon such investments (subject to regulation 5) as the Board may think fit without being liable for any loss in or depreciation of such investments, whether the same be usual or authorised investments for trust funds or not, and from time to time to deal with and vary or realise such investments and dispose of all or any part thereof for the benefit of the Bank, and to divide the reserve or reserve funds for the time being into such special funds as the Board may think fit, with full power to employ all or any part of the assets constituting any re- serve or reserve funds or carry forward in the business of the Bank, and that without being bound to keep the same separate from the other assets.

To establish

and administer

reserve.