1989 Ed.]
The Hongkong and Shanghai Bank Regulations
[CAP. 70
A 43
[Subsidiary]
Powers of the board
108. Board to have general control of business
Subject to the provisions of regulations 105, 109(10), 116 and 118 the board shall in addition to the powers, authorities and discretions by the Ordinance and by these regulations expressly conferred upon it have the entire management of and superintendence over the business and affairs of the bank, and in every case not provided for or not adequately provided for by the Ordinance or by these regulations shall have full power to regulate its own procedure and the mode of conducting the business of the bank, and the board, in addition to the powers and authorities by the Ordinance and by these regulations expressly conferred upon it, may exercise all such powers, give all such consents, make all such arrangements and generally do all such acts and things as may be exercised or done by the bank and are not by the Ordinance or by these regulations directed or required to be exercised or done by the shareholders in general meeting, but subject nevertheless to the provisions of the Ordinance and of these regulations.
109. Powers exercisable by board: general and specific
(L.N. 61 of 1969)
Without prejudice to the general powers, and to the other powers, authorities and discretions, conferred by or implied in these regulations, it is hereby expressly declared that it shall be lawful for the board to do all acts and things necessary to accomplish all or any of the objects set forth in regulation 3, and by way of addition and not of limitation to do all or any of the following things-
(1) to purchase or otherwise acquire for the bank any property, concessions, franchises, charters, patents, monopolies, rights or privileges which the bank is authorized to acquire, at such price and generally on such terms and conditions as the board thinks fit;
(2) at its discretion to pay for any property, concessions, franchises, charters, patents, monopolies, rights, or privileges acquired by, or services rendered to, the bank either wholly or partially in cash or in shares, bonds, debentures or other securities of the bank; and any such shares may be issued either as fully paid up or with such amount credited as paid up thereon as may be agreed upon; and any such bonds, debentures or other securities may be either specifically charged upon all or any part of the property of the bank and its uncalled capital, or not so charged;
(3) to secure the fulfilment of any contracts or engagements entered into by the bank by mortgage or charge of all or any of the property of the bank and its uncalled capital for the time being, or in such other manner as the board may think fit:
1989 Ed.]
The Hongkong and Shanghai Bank Regulations
[CAP. 70
A 43
[Subsidiary]
Powers of the board
108. Board to have general control of business
Subject to the provisions of regulations 105, 109(10), 116 and 118 the board shall in addition to the powers, authorities and discretions by the Ordinance and by these regulations expressly conferred upon it have the entire management of and superintendence over the business and affairs of the bank, and in every case not provided for or not adequately provided for by the Ordinance or by these regulations shall have full power to regulate its own procedure and the mode of conducting the business of the bank, and the board, in addition to the powers and authorities by the Ordinance and by these regulations expressly conferred upon it, may exercise all such powers, give all such consents, make all such arrangements and generally do all such acts and things as may be exercised or done by the bank and are not by the Ordinance or by these regulations directed or required to be exercised or done by the shareholders in general meeting, but subject nevertheless to the provisions of the Ordinance and of these regulations.
109. Powers exercisable by board: general and specific
(L.N. 61 of 1969)
Without prejudice to the general powers, and to the other powers, authorities and discretions, conferred by or implied in these regulations, it is hereby expressly declared that it shall be lawful for the board to do all acts and things necessary to accomplish all or any of the objects set forth in regulation 3, and by way of addition and not of limitation to do all or any of the following things-
(1) to purchase or otherwise acquire for the bank any property, concessions, franchises, charters, patents, monopolies, rights or privileges which the bank is authorized to acquire, at such price and generally on such terms and conditions as the board thinks fit;
(2) at its discretion to pay for any property, concessions, franchises, charters, patents, monopolies, rights, or privileges acquired by, or services rendered to, the bank either wholly or partially in cash or in shares, bonds, debentures or other securities of the bank; and any such shares may be issued either as fully paid up or with such amount credited as paid up thereon as may be agreed upon; and any such bonds, debentures or other securities may be either specifically charged upon all or any part of the property of the bank and its uncalled capital, or not so charged;
(3) to secure the fulfilment of any contracts or engagements entered into by the bank by mortgage or charge of all or any of the property of the bank and its uncalled capital for the time being, or in such other manner as the board may think fit:
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