REGULATIONS.
1, — The Capital of the Company to consist of £50.000, in 2.500 Shares of £'20 each.
2. — One pound per share to be paid previous to the election of Directors, of which a week's public notice will be given ; and £ 1 additional at the expiration of each month from that period, until £5 has been paid up.
3, — Further calls to be made at the discretion of the Directors ; and three months' previous notice oi each call to be given in the <f New Zealand Gazette."
4. — No person to be allowed to subscribe for more than 50 Shares.
5. — The Officers of the Company to consist of nine Directors and a Cashier, with such assistance as the Directors may deem necessary.
6. — The Directors to be elected for one year, by the Shareholders ; at the expiration of that period, one third of the number, to be determined by lot, shall retire, and their place be filled by fresh election, — the retiring Directors to be capable of re-election.
7. — The Cashier to be appointed by the Directors, and removable at their pleasure.
8. — Qualification of Directors to be 15 Shares.
9. — In all meetings of Shareholders, Proprietors to have one vote for every 5 Shares.
10. — No Bill to be discounted except under the sanction of three of the Directors ; nor if objected to by one of three of the Directors present.
11. — Meetings to be held half-yenrly, for the purpose of declaring Dividends, &c.
12. — A statement of the affairs of the Bank to be laid before the Shareholders at each such half-yearly meeting, and afterwards published in the " New Zealand Gazette."
A Deed of Settlement, to be signed by all the Shareholders, embodying these and all other necessary regulations, will be prepared as speedily as possible.
PROPOSITIONS at the MEETING. 1 , — That the Prospectus now read be adopted ami printed. 2. — That Captain Edward Daniell and Messrs. Partridge, Watt, Millar, and Pierce, do form a Provisional Conraittee to carry if into effect.
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Bibliographic details
New Zealand Gazette and Wellington Spectator, Volume I, Issue 16, 25 July 1840, Page 4
Word Count
335REGULATIONS. New Zealand Gazette and Wellington Spectator, Volume I, Issue 16, 25 July 1840, Page 4
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