713501-1866-GOVERNMENT-NOTIFICATION — Page 5

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THE HONGKONG GOVERNMENT GAZETTE, 28TH JULY, 1866..

Power to Company to

or property taken as security.

or other real or personal property in satisfaction, liquidation or payment of any debt absolutely and bond fide due and owing to the Company, and also to take any mortgage or other lien or charge on real or personal property as a security for any Monies actually and bona fide due to the Company, or for which any person or persons may have rendered himself or themselves liable to the Company, and to hold such Lands, Houses, and other real and personal property respectively, for such reasonable tune as shall be necessary for selling and disposing of and converting the same into Money.

XXI. It shall be lawful for the Company to sell, dispose of, and convert into sell and convert land Money, any Goods, Wares, or Merchandize, which shall or may be taken by them in satisfaction, liquidation or payment of any debt: And also to sell and convey any Lands, Houses, and other real property whatsoever, Goods, Wares, or Merchandize, which they shall or may have acquired in manner aforesaid.

Power to increase

certain conditions.

XXII. It shall be lawful for the Company from time to time to extend or increase Capital further under their Capital for the time being by the creation and sale of new shares, in the manner to be specified and set forth in the Deed of Settlement, to be prepared and executed as hereinbefore directed, so as the same be made with the consent of a General 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 conditions and provisions as he shall think fit, such consent being evidenced as hereinbefore provided for with respect to other requirements of a like nature, and so as the total amount of the Capital of the Company shall not exceed the Sum of Ten Millions of Dollars and until it shall be certified by the Governor in like manner as aforesaid that one-half of such new Capital has been so paid up, the Company shall not be entitled, by advertisement or otherwise, to state or hold out to the Public that the amount of the Capital has been increased.

Increased Capital to be fully paid up,

when.

Directors to produce accounts and state- ments when called on to do so.

Liability of Share- holders.

Provisions to be in- cluded in Deed aud Transfers.

Insolvency of Com~ pany.

Provision for repeal of this Ordinance on certain events.

XXIII. The remainder of the instalments on the shares constituting such increased Capital shall be wholly paid up within Two Years from the date of the Certificate, to be granted as aforesaid, of one-half thereof having been paid up, and the same shall be made to appear to the satisfaction of the Governor, to be certified as aforesaid.

XXIV. The Directors of the Company shall, if, and whenever, they shall be required so to do, by the Governor, produce and subunit to him, or to such persons or officers as he may appoint for that purpose, for his or their inspection and examination, the several accounts and statements which by the said Deed shall be directed to be made and furnished.

XXV. If the Company shall become insolvent, every proprietor for the time being of shares in the Capital thereof shall be liable to contribute to the payment of the debts, engagements, and liabilities of the Company not only such parts of the shares held by him or her respectively, in the Capital of the Company, as shall not have been theretofore called for and paid up, but also such further Sums of Money not exceeding the amount of the shares so held by him or her, as shall be requisite and necessary to satisfy and discharge the debts, engagements, and liabilities of the Company.

XXVI. In the said Deeds so to be executed as aforesaid, and in every transfer of any share or shares in the Company, due provision shall accordingly be made for the payment by the shareholders of such amounts as aforesaid.

XXVII. In the event of the insolvency of the Company, or in the event of the powers and privileges hereby given being declared void as herein mentioned, the business hereby authorized to be carried on by the Company shall, so far as the same may depend upon or be carried on, under, or by virtue of the powers and provisions herein given and contained, cease and determine, and the Assets, property, and securities of the Company, shall be sold or disposed of and converted into Money, and the debts, engagements, and liabilities of the Company shall be paid, satisfied, and discharged, and the surplus (if any), after providing for the full payment, satisfaction and discharge of the debts, engagements, and liabilities of the Company, shall be divided amongst the Proprietors of the Company, according and in proportion to their several and respective shares and interests in the Capital thereof.

XXVIII. In the event of the insolvency of the Company, or of any Suspension in the Payments of the Company, for the space of Sixty Days in succession, or for any number of Days, at intervals which shall amount altogether to Sixty Days within any One Year, or if the Company shall not have well and truly maintained, abided by, perforined and observed, all and every the rules, orders, provisions, and directions herein contained