714698-1865-HONGKONG-ANNO-VICESIMO-OCTAVO-VICTORIE-REGINE-NO-1-OF-1865- — Page 8

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THE HONGKONG GOVERNMENT GAZETTE, 18TH MARCH, 1865.

Proviso na to Bank-

ing Company.

Registered Office of Company.

Notice of Situation

(3.) No past Member shall be liable to contribute to the Assets of the Company unless it appears to the Court that the existing Members are unable to satisfy the Contributions required to be made by them in pursuance of this Ordi-

nance:

(4.) In the case of a Company limited by Shares, no Contribution shall be required from any Member exceeding the Amount, if any, unpaid on the Shares in respect of which he is liable as a present or past Member:

(5.) In the case of a Company limited by Guarantee, no Contribution shall be required from any Member exceeding the Amount of the undertaking entered into on his behalf by the Memorandum of Association:

(6.) Nothing in this Ordinance contained shall invalidate any Provision contained in any Policy of Insurance or other Contract whereby the liability of individual Members upon any such Policy or Contract is restricted, or whereby the Funds of the Company are alone made liable in respect of such Policy or Contract: (7.) No Sum due to any Member of a Company, in his Character of a Member, by way of Dividends, Profits, or otherwise, shall be deemed to be a Debt of the Company, payable to such Member in a case of Competition between himself and any other Creditor not being a Member of the Company; but any such Sum may be taken into account, for the purposes of the final Adjustment of the Rights of the Contributories amongst themselves.

PART III.

LIABILITY OF BANKING COMPANIES ISSUING NOTES.

XXXVIII. No Banking Company Registered under this Ordinance issuing Notes in this Colony shall be entitled to Limited Liability in respect of such Issue, but shall be subject to Unlimited Liability in respect thereof, and, if necessary, the Assets shall be marshalled for the Benefit of the General Creditors, and the Members shall be liable for the whole Amount of the Issue, in addition to the Sum for which they would be liable as Members of a Limited Company.

PART IV.

MANAGEMENT AND ADMINISTRATION OF COMPANIES AND ASSOCIATIONS UNDER THIS ORDINANce.

Provisions for Protection of Creditors.

XXXIX. Every Company under this Ordinance shall have a Registered Office to which all Communications and Notices may be addressed: If any Company under this Ordinance carries on Business without having, such an Office, it shall incur a Penalty not exceeding Fifty Dollars for every Day during which Business is so car- ried on.

XL. Notice of the Situation of such Registered Office, and of any change therein, of Registered Office, shall be given to the Registrar, and recorded by him: until such Notice is given the Company shall not be deemed to have complied with the Provisions of this Ördinance with respect to having a Registered Office.

Publication of Name by a Limited Com- pany.

Penalties on Non- publication of Name.

XLI. Every Limited Company under this Ordinance, whether limited by Shares or by Guarantee, shall paint or affix, and shall keep painted or affixed, its Name on the outside of every Office or Place in which the Business of the Company is carried on, in a conspicuous position, in Letters easily legible, and shall have its Name en- graved in legible Characters on its Seal, and shall have its Name mentioned in legible Characters in all Notices, Advertisements, and other Official Publications of such Company, and in all Bills of Exchange, Promissory Notes, Endorsements, Cheques, and Orders for Money or Goods purporting to be signed by or on behalf of such Com- pany, and in all Bills of Parcels, Invoices, Receipts, and Letters of Credit of the Coin- pany.

XLII. If any Limited Company under this Ordinance does not paint or affix, and keep painted or affixed, its Name in manner directed by this Ordinance, it shall be liable to a Penalty not exceeding Fifty Dollars for not so painting or affixing its Name and for every Day during which such Name is not so kept painted or affixed, and every Director and Manager of the Company who shall knowingly and wilfully authorize or

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