CAP. 70]
Convening of board;
meeting and adjournment of board.
Quorum of directors.
Director interested
to be
counted
in a quorum,
How questions to be decided.
Chairman
and deputy.
The Hongkong and Shanghai Banking Corporation.
Proceedings of the board.
98. (1) A board meeting shall be convened by the chief manager by written notice and shall be held as often as the board considers that the purposes of the bank require, or at any time upon requisition of two of the directors who shall specify in writing to the chief manager the purpose for which they require the meeting to be held; which purpose shall be communicated by the chief manager to the other directors in the notice convening such special meeting. It shall not be necessary to give notice of a meeting of the board to a director who is not within the Colony.
(2) Subject to paragraph (1), the board shall be convened or adjourned in such manner and at such time or place and subject to such notice of the business to be transacted thereat as the board may from time to time determine.
99. The board may determine the quorum necessary for the transaction of business. Until it otherwise determines, three directors shall be a quorum.
100. A director who is interested is to be counted in a quorum notwithstanding his interest. His right of voting is limited by regulation 90.
101. Questions arising at any meeting of the board shall be decided by a majority of votes and in case of an equality of votes the chairman shall have a second or casting vote.
102. The board shall from time to time elect one of its members to be the chairman and may, if they think fit, from time to time elect another of its members to be the deputy chairman. The board shall determine the period for which they are respectively to hold office, and each of them shall continue in office until another is elected in his stead; it being the intention of these regulations that the duration of office of the chairman and deputy chairman shall be wholly in the discretion of the board.
103. The chairman, or in his absence the deputy chairman, shall preside at every meeting of the board but if both be absent or there be no chairman or deputy chairman, or if at any meeting the chairman or deputy chairman be not present within ten minutes after the time appointed for holding the same, the directors present shall choose one of their number to be chairman of the meeting.
378
CAP. 70]
Convening of board;
meeting and adjournment of board.
Quorum of directors.
Director interested
to be
counted
in a quorum,
How questions to be decided.
Chairman
and deputy.
The Hongkong and Shanghai Banking Corporation.
Proceedings of the board.
98. (1) A board meeting shall be convened by the chief manager by written notice and shall be held as often as the board considers that the purposes of the bank require, or at any time upon requisition of two of the directors who shall specify in writing to the chief manager the purpose for which they require the meeting to be held; which purpose shall be communicated by the chief manager to the other directors in the notice convening such special meeting. It shall not be necessary to give notice of a meeting of the board to a director who is not within the Colony.
(2) Subject to paragraph (1), the board shall be con- vened or adjourned in such manner and at such time or place and subject to such notice of the business to be trans- acted thereat as the board may from time to time determine.
99. The board may determine the quorum necessary for the transaction of business. Until it otherwise determines, three directors shall be a quorum.
100. A director who is interested is to be counted in a quorum notwithstanding his interest. His right of voting is limited by regulation 90.
101. Questions arising at any meeting of the board shall be decided by a majority of votes and in case of an equality of votes the chairman shall have a second or casting vote.
102. The board shall from time to time elect one of its members to be the chairman and may, if they think fit, from s. 2, Schedule. time to time elect another of its members to be the deputy
chairman.
Ord. 8/46,
Who to preside at meetings of board.
chairman of the board and shall determine the period for which they are respectively to hold office, and each of them shall continue in office until another is elected in his stead; it being the intention of these regulations that the duration of office of the chairman and deputy chairman shall be wholly in the discretion of the board.
103. The chairman, or in his absence the deputy chair- man, shall preside at every meeting of the board but if both be absent or there be no chairman or deputy chairman, or if at any meeting the chairman or deputy chairman be not present within ten minutes after the time appointed for
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