ORDINANCE No. 5 of 1866.
Hongkong and Shanghae Bank.
22. It shall be lawful for the company from time to time to extend or increase 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.
23. 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.
24. The directors of the company shall, if, and whenever, they shall be required so to do, by the Governor, produce and submit 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.
Power to increase capital further under certain conditions.
Increased capital to be fully paid up, when.
Directors to produce accounts and statements when called on to do so.
897 shareholders.
25. If the company shall become insolvent, every proprietor for the time being of shares in the capital thereof shall, in addition to his liability for the amount of the issue of notes under the provisions of the twelfth clause of this Ordinance, 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.
Liability of shareholders.
ORDINANCE No. 5 or 1866.
Hongkong and Shanghae Bank.
22. It shall be lawful for the company from time to time to extend or increase 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 settle- ment, 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 herein- before 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.
23. 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 satis- faction of the Governor, to be certified as aforesaid.
24. The directors of the company shall, if, and whenever, they shall be required so to do, by the Governor, produce and submit 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.
Power to increase
897
capital further under certain conditions.
Increased
capital to be
fully paid up,
when.
Directors to produce accounts and statements when called on to do so.
shareholders.
25. If the company shall become insolvent, every proprietor for the Liability of time being of shares in the capital thereof shall, in addition to his liability for the amount of the issue of notes under the provisions of the twelfth clause of this Ordinance, 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.
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