1950_THE_HONGKONG_AND_SHANGHAI_BANK_REGULATIONS — Page 37

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CAP. 70]

The Hongkong and Shanghai Banking Corporation.

[r. 109 cont.] ditions and restrictions, as the board thinks fit, and to allow such remuneration as the board thinks fit, and to revoke or suspend any such appointment;

to appoint. either temporarily

ΟΙ

permanently,

officers or servants of

the bank for

special duty:

to delegate powers to directors and others:

to appoint trustees":"

to bring and defend,

etc., actions;

(9) to appoint and send either temporarily or per- manently to any such place as aforesaid any officers or servants of the bank, in any capacity which the board thinks expedient, for any of the business or affairs of the bank, and to allow them such remuneration as it thinks fit, and to revoke or suspend any such appointment;

(10) to delegate to any such directors, or officers or servants of the bank respectively any of the powers of the board by a power of attorney or deed under seal, and to invest them respectively with any such powers as the board in its discretion thinks expedient for the due conduct, management and regulation of any of the business or affairs of the bank;

(11) to appoint any person or persons (whether incor- porated or not) to accept and hold in trust for the bank any property or assets belonging to the bank or in which it is interested, or for any other purposes, and to execute and do all such deeds and things as may be requisite in relation to any such trust, and to provide for the remuneration of such trustee or trustees;

(12) to institute, conduct, defend, compromise or abandon any legal or other proceedings or claims by or against the bank or its officers or servants, or otherwise to compound concerning the affairs of the bank, and also to compound and allow time for payment or satisfaction of any debts due and of any claims or demands by or against the bank;

debts;

to refer to arbitration:

to appoint persons to act for bank re bank- ruptcies. etc.;

to give security by way of

indemnity;

(13) to refer any claims or demands by or against the bank to arbitration, and to observe and perform the awards; (14) to determine who shall make proofs of debt and otherwise act on behalf of the bank in cases of bankruptcies and insolvencies and windings-up of companies or other administrations of assets; in default of such determination the local manager shall act;

(15) to execute in the name and on behalf of the bank in favour of any director or other person, who may incur or be about to incur any personal liability, whether as principal. or surety, for the benefit of the bank, such mortgages,

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