632752-1898-Despatch--Order-in-Council-re-Chartered-Bank-of-India-Australia-and-China — Page 3

THE HONGKONG GOVERNMENT GAZETTE, 7TH MAY, 1898.

399

7. And whereas by a Supplemental Charter under Our Great Seal dated the 18th day of December 1884 We authorized the said Company to continue incorporated under the Original Charter as amended by the said Supplemental Charters for a further period of ten years.

8. And whereas by a Supplemental Charter dated the 17th day of December 1894 We authorized the said Company to continue incorporated under the original Charter as amended by the said Supple- mental Charters for a further period of ten years.

9. And whereas application has been made to Us by the said Company for such an amendment of the original Charter of the said Company as will enable the said Company to establish Branch Banks within the geographical limits within which the said Company can now establish agencies.

10. Now know ye that We by these presents do will and ordain that at any time during the period for which the said Company remains incorporated under the Supplemental Charter dated the 17th day of December 1891 the said Company shall be and are hereby empowered to establish on the following conditions, Branch Banks within the said geographical limits in India, in any of Our Colonies, in any British Protectorate, or in any place outside Our possessions.

(1) No Branch Bank shall be established by the said Company in India without the previous

assent of Our Secretary of State for India in Council.

(2). No Branch Bank shall be established by the said Company in any of Our Colonies without

the previous assent of Our Governor in Council of such Colony.

(3) No Branch Bank shall be established by the said Company in any British Protectorate with-

out the previous assent of one of Our Principal Secretaries of State.

(4) No Branch Bank shall be established by the said Company at any place outside Our Posses- sions except in accordance with the local law of such place and subject to such local law the said Company shall be at liberty to establish Branch Banks, to issue notes, and generally to carry on the business of Bankers in conformity with the provisions of the said Original Charter and of the said Supplemental Charters and of this Supplemental Charter. 11. And whereas by Clause 11 of the said Supplemental Charter dated the 17th day of December 1894 We did will and ordain that the said Company should deposit and keep deposite as in such clause mentioned coin or securities or partly coin and partly securities equal to one third of the maximum amount of notes issued by the said Company which might for the time being have been allocated to the Straits Settlements and Hong Kong respectively.

And whereas We deem it expedient to revoke the said clause and to make other provisions in lieu thereof.

We do therefore hereby will and ordain that from and after the date of this Our Supplemental Charter Clause 11 of the said Supplemental Charter dated the 17th day of December 1891 shall be and is hereby revoked and the following Clause shall from and after the date of this Our Supplemental Charter be substituted for the Clause so revoked.

And whereas in lieu of the proviso in the Original Charter whereby the said Company is bound to keep reserves of specie equal to one third of the notes in circulation at any time which proviso We do hereby revoke and determine We deen it expedient to make other provision for securing the due redemption of the promissory notes issued by the said Company We do therefore hereby further will and ordain that the said Company shall within three months from the date of this Our Supplemental Charter deposit and thenceforth at all times shall keep deposited either with the Crown Agents for Our Colonies in London or with Trustees to be appointed by the Treasury or partly with such Crown Agents and partly with such Trustees coin of denominations to be approved by the Treasury or securities to be so approved or partly such coin and partly such securities equal to one third of the maximum amount of notes, eight million dollars, issuable by the said Company such coin or securities or such coin and securities to be held by the said Crown Agents or by the said Trustees separately or jointly as special funds exclusively available for the redemption of the promissory notes issued by the said Company and in the event of the said Company's becoming insolvent to be applied accordingly so far as may be necessary but without prejudice to the rights of the holders of such notes to rank with other Creditors of the said Company against the assets of the said Company.

12. And whereas by the Original Charter We did Will and Ordain that the Company should not issue notes in the Island of Hong Kong uor in other places in China for any other sum than five dollars or one pound sterling or some multiple of such five dollars or other equivalent amount.

And whereas We deem it expedient to amend such provision of the Original Charter.

We do hereby further will and ordain that the before mentioned provision of the Original Charter shall from the date of this Charter be amended by the omission therefrom of the words "and other places in China."

In witness whereof We have caused these Our Letters to be made patent.

Witness Ourself at

in the

this

year of Our Reign,

day of