6617-1907-Ordinances-passed-and-assented-to--Hongkong-and-Shanghai-Banking-Corporation-No-6 — Page 2

THE HONGKONG GOVERNMENT GAZETTE, JUNE 14, 1907.

HONGKONG.

No. 6 or 1907.

An Ordinance to authorise the Hongkong and Shanghai Banking Corporation from time to time to increase the Capital of the said Corpora- tion from the sum of Ten Millions of Dollars to a sum not exceeding the sum of Twenty Mill- ions of Dollars; and to continue incorporated for a further term of 21 years; and to continue in force for a further period of 21 years the provisions of Section 3 of the Hongkong and Shanghai Banking Corporation Ordinance, 1899, with regard to the Excess Issue of Bills and Notes payable to hearer on demand.

LS

F. H. MAY,

Officer Administering the Government.

[14th June, 1907.]

WHEREAS, by section 22 of the Hongkong and Shanghai Banking Corporation Ordiunnee, 1866, (hereinafter called The Principal Ordinance) it was enacted that it should be lawful for the Hongkong and Shanghai Banking Corporation (therein and hereinafter called the Company) from time to time to extend or increase its Capital for the time being by the creation and sale of new shares, in the manner therein provided, and so as the total amount of the capital of the Company should not exceed the sum of Ten Millions of Dollars; And Whereas it is expedient to authorise the Company from time to time to extend or increase its capital for the time being by the creation and sale of new shares so as the same is made with the consent of a General (EX- traordinary) Meeting of the shareholders of the Company to be specially called for that purpose and with the consent previously obtained of the Governor, and under such con- ditions and provisions as he may think fit, such consent being evidenced by a notification or proclamation to that effect under the hand of the Governor and published in the Gazette, and so as the total amount of the capital of the Company shall not exceed the sum of Twenty Millions of Dollars; And Whereas by section 4 of the Principal Ordin- ance it was enacted that the Company should be established for the purpose of carrying on, under the management of a Court of Directors, the business of banking for the term of 21 years, commencing from the date of that Ordinance: And Whereas by section 29 of the Principal Ordinance it was enacted that, on the determination of the said term of 21 years from the date of the Principal Ordinance the powers and privileges thereinbefore conferred on the Company should cease, unless the Governor, with the advice of the Legislative Council of the Colony should declare to the contrary, and by an Ordinance to that effect authorise the Company to continue incorporated under the aforesaid provisions for a further term of ten years, or for such period and under such provisions and conditious as might be con- tained in such Ordinance: And Whereas by section 2 of the Hongkong and Shanghai Banking Corporation Ordinance 1887, it was enacted that the Company should continue incorporated and should carry on the business of banking under the provisions and conditions contained in the Prin- cipal Ordinance for the further term of 21 years commencing from the 14th day of August, 1887; And Whereas it is ex- pedient to authorise the Company to continue incorporated under the provisions of the Principal Ordinance for an additional and further term of 21 years commencing from the expiry of the said further term of 21 years; And Where- as by section 13 of the Principal Ordinance it was enacted that the total amount of bills and notes of the Company payable to bearer on demand, actually in circulation, should not at any time exceed the amount of the capital of the Company actually paid up, and there should be kept by each establishment of the Company an amount of coin and

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