The Hongkong and Shanghai Banking Corporation.
the shareholders to enter into any agreement with the bank providing for the allotment to them of such shares credited as paid up shares as aforesaid, and in satisfaction as aforesaid, and any agreement made under such authority shall be effective.
Dividends.
[CAP. 70
of profits.
123. Subject to the provisions of these regulations and Disposition to the rights of holders of shares issued upon special conditions, and to any arrangement that may be made by the shareholders to the contrary, and subject as to shares not fully paid to any special arrangement made as regards money paid in advance of calls, the profits of the bank for the time being available for dividend, which it is from time to time determined to divide in respect of any year, shall be divided among the shareholders in proportion to the capital paid or credited on the shares held by them respectively.
of dividends;
employees;
124. The board may, with the sanction of the shareholders in general meeting, declare a dividend to be paid to the shareholders according to their rights and interest in the profits and may fix the time for payment, and may with the like sanction declare and pay a dividend out of any reserve fund and fix the time for payment thereof, and may with the like sanction declare bonuses to the bank's employees or any of them: Provided always that if shares have been issued during the course of a financial year the holder thereof shall, subject to any arrangement made by the board to the contrary, only be entitled to have paid to him in respect of dividends on such shares a proportionate part of the dividends for such financial year calculated on the proportionate part of the year from the dates on which the calls on such shares were payable, treating such dividends as earned rateably over the whole year or other financial period to which the dividend relates. The board may from time to time pay to the shareholders such interim dividend as in its judgment the position of the bank justifies.
tionate dividend;
dividend.
125. Where capital is paid up in advance of calls upon the footing that the same shall carry interest, such capital
in advance.
Page 391
The Hongkong and Shanghai Banking Corporation.
the shareholders to enter into any agreement with the bank providing for the allotment to them of such shares credited as paid up shares as aforesaid, and in satisfaction as aforesaid, and any agreement made under such authority shall be effective.
Dividends.
[CAP. 70
of profits.
123. Subject to the provisions of these regulations and Disposition to the rights of holders of shares issued upon special con- ditions, and to any arrangement that may be made by the shareholders to the contrary, and subject as to shares not fully paid to any special arrangement made as regards money paid in advance of calls, the profits of the bank for the time being available for dividend, which it is from time. to time determined to divide in respect of any year, shall be divided among the shareholders in proportion to the capital paid or credited on the shares held by them respec- tively.
of dividends;
employees;
124. The board may, with the sanction of the share- Declaration holders in general meeting, declare a dividend to be paid to the shareholders according to their rights and interest in the profits and may fix the time for payment, and may with the like sanction declare and pay a dividend out of any re- serve fund and fix the time for payment thereof, and may with the like sanction declare bonuses to the bank's em- ployees or any of them: Provided always that if shares bonus to have been issued during the course of a financial year the holder thereof shall, subject to any arrangement made by the board to the contrary, only be entitled to have paid to him in respect of dividends on such shares a proportionate propor- part of the dividends for such financial year calculated on the proportionate part of the year from the dates on which the calls on such shares were payable, treating such dividends as earned rateably over the whole year or other financial period to which the dividend relates. The board interim may from time to time pay to the shareholders such interim dividend as in its judgment the position of the bank justifies.
tionate dividend;
dividend.
125. Where capital is paid up in advance of calls upon Capital paid the footing that the same shall carry interest, such capital
in advance.
391
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