✨ Bank Act Amendment Resolutions
644
THE NEW ZEALAND GAZETTE. [No. 35
(h.) To empower shareholders from time to time to change
the place of business of the bank to any part of the Colony
of New Zealand or any part of the British dominions;
(i.) To do all such other things as are incidental or con-
ducive to the attainment of the before-mentioned objects.
The following is a copy of the resolutions above referred
to:-
-
"That £3 per share of the present paid-up capital of
the bank be and the same is hereby cancelled, such capital
having been lost or being unrepresented by available assets;
and that henceforth dividends shall be paid on such shares
as representing £7 each instead of £10 each, the original
amount thereof. But such reduction shall not interfere with
or in any way alter the liability of shareholders to contribute
a further sum of £10, as provided by the bank's Act and deed
of settlement, in the event of the assets of the corporation
being insufficient to meet its engagements." -
"That the directors be empowered, at their option, to
receive from shareholders willing to pay the same £3 per
share to reinstate their shares to the original amount of £10
per share, and on all shares so reinstated to pay dividends on
the original amount of such shares: Provided that such
payment to reinstate shares shall not render the shareholder
liable to pay any further or larger amount than he would
have been liable for if the shares had remained at £10 each,
as originally created." -
"That the several assets and accounts held for realisa-
tion, and outside the category of what may be regarded as
ordinary and current business, be liquidated by the directors
as speedily as may be, having regard to advantageous reali-
sation thereof; and that in the meantime such assets be
transferred to, and held and treated in globo in, a separate
liquidation account, and so as that surplus in realising any
one asset may be set against deficiency in realising any other
without passing such surplus or deficiencies respectively
through the ordinary profit and loss account." -
"That the words beginning 'and if' in clause 102 of the
deed of settlement, to the end of the clause, be and the
same are hereby deleted." -
"That in disposing of the new shares created and
authorised to be issued by the resolution of the special
general meeting of proprietors, held on the third day of
October last, the Board of Directors may make it one of the
conditions that payment for such new shares may be made
by such instalments as the Board of Directors may think
fit."
And notice is hereby further given that copies of the said
Bill will be deposited at the office of the Examiner of Stand-
ing Orders, at Wellington, at or within fourteen days after
the commencement of the session.
Dated this 31st day of May, 1889.
C. E. BUTTON,
Auckland, Solicitor for the Promoters of the Bill.
By Authority: GEORGE DIDSBURY, Govt. Printer, Wellington.
NZ Gazette 1889, No 35
✨ LLM interpretation of page content
💰
Detailed Resolutions for Bank Act Amendment
(continued from previous page)
💰 Finance & Revenue31 May 1889
Bank Act, Shareholder capital reduction, Dividends, Liquidation, Deed of settlement, New shares, Standing Orders
- C. E. Button, Solicitor for the Promoters of the Bill
💰
Resolutions for Amending The New Zealand Bank Act, 1861
(continued from previous page)
💰 Finance & Revenue31 May 1889
Bank Act, Shareholder resolutions, Capital reduction, Dividends, Liquidation, Deed of settlement, Bill deposit
- C. E. Button, Solicitor for the Promoters of the Bill