The Hongkong and Shanghai Banking Corporation.
inexpedient in the general interests of the shareholders to give the information required.
Indemnity individual responsibility.
[CAP. 70
of directors,
158. Every member of the board, or of any committee Indemnity thereof, member of any local committee, chief manager, officers, etc.; inspector, manager, sub-manager, agent, sub-agent, chief accountant, accountant or other European officer of the bank, his heirs, executors and administrators, shall be indemnified and saved harmless out of the funds of the bank from and against all costs, charges, losses, damages and expenses whatsoever which any such person as aforesaid may incur or become liable to by reason of any contract entered into or act or thing done by him in the proper execution of his own respective powers, duties, office and trust; and every such person as aforesaid, his heirs, executors and administrators, shall be indemnified and saved harmless out of the funds of the bank from and against all actions, suits, claims and demands whatsoever brought or made against him or them in respect of any engagement or any liability of the bank, except such as may be incurred or occasioned by or through his own dishonesty or negligence.
responsi-
No such person as aforesaid shall be answerable for the individual acts, receipts, neglects or defaults of the other or others of bility. them, or for joining in any receipt or other act for conformity, or for any person with or to whom any moneys or effects belonging to the bank are lodged or deposited for safe custody or come, or for any loss or expense happening to the bank through the insufficiency or deficiency of title to any property acquired by order of the board for or on behalf of the bank, or for the insufficiency or deficiency of, or for any defect of title of the bank to, any security in or upon which any of the moneys of the bank are invested, or for any loss or damage arising from the bankruptcy, insolvency or tortious act of any person with whom any moneys, securities or effects of the bank are deposited, or for any loss or damage occasioned by any error of judgment, omission, default or oversight on his part, or for any other loss, damage or misfortune whatever which happens in the execution of the duties of his office or in relation thereto, unless the same happens through his own dishonesty or negligence.
399
The Hongkong and Shanghai Banking Corporation.
inexpedient in the general interests of the shareholders to give the information required.
Indemnity individual responsibility.
[CAP. 70
of directors,
158. Every member of the board, or of any committee Indemnity thereof, member of any local committee, chief manager, officers, etc.; inspector, manager, sub-manager, agent, sub-agent, chief. accountant, accountant or other European officer of the bank, his heirs, executors and administrators, shall be indemnified and saved harmless out of the funds of the bank from and against all costs, charges, losses, damages and expenses whatsoever which any such person as aforesaid may incur or become liable to by reason of any contract entered into or act or thing done by him in the proper execution of his own respective powers, duties, office and trust; and every such person as aforesaid, his heirs, executors and administra- tors, shall be indemnified and saved harmless out of the funds of the bank from and against all actions, suits, claims and demands whatsoever brought or made against him or them in respect of any engagement or any liability of the bank, except such as may be incurred or occasioned by or through his own dishonesty or negligence.
responsi-
No such person as aforesaid shall be answerable for the individual acts, receipts, neglects or defaults of the other or others of bility. them, or for joining in any receipt or other act for con- formity, or for any person with or to whom any moneys or effects belonging to the bank are lodged or deposited for safe custody or come, or for any loss or expense happening to the bank through the insufficiency or deficiency of title to any property acquired by order of the board for or on behalf of the bank, or for the insufficiency or deficiency of, or for any defect of title of the bank to, any security in or upon which any of the moneys of the bank are invested, or for any loss or damage arising from the bankruptcy, insolvency or tortious act of any person with whom any moneys, securities or effects of the bank are deposited, or for any loss or damage occasioned by any error of judgment, omission, default or oversight on his part, or for any other loss, damage or misfortune whatever which happens in the execution of the duties of his office or in relation thereto, unless the same happens through his own dishonesty or negligence.
399
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