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Repealed or not in force

Bank of Madras Act, 1843, 9 of 1843 (Rep., Act 5 of 1862)

41 sections · As amended up to 2026-08

Sections

  1. XVIIIAnd it is hereby enacted, that at a General Meeting of the Proprietors, every election and other mat
  2. XXVIAnd it is hereby enacted, that no person who shall hold the Officer of Secretary, Treasurer, Head Ac
  3. XXXIXAnd it is hereby enacted, that any three of the said Directors of the said Bank, or any ten Propriet
  4. XLIIAnd it is hereby enacted, that the said Bank shall continue as hereby constituted until the 1[st] da
  5. XIVAnd it is hereby enacted, that the first Directors of the said Bank shall be such three person as ma
  6. IXAnd it is hereby enacted, that after the delivery by the Sub-Treasurer at Madras, to whom all subscr
  7. XAnd it is hereby enacted, that no Proprietor shall be allowed to increase his share in the Capital S
  8. XXIVAnd it is hereby enacted, that all Accounts of the said Bank, and all instruments not under Seal whe
  9. XXIXAnd it is hereby enacted, that the Directors of the said Bank of Madras shall not discount any Negot
  10. IVAnd it is hereby enacted, that it shall be in the power of the Governor General of India in Council,
  11. XXVAnd it is hereby enacted, that the said Directors shall have power to appoint such Officers as may b
  12. XIXAnd it is hereby enacted, that at all such General Meetings the Proprietors shall vote according to the following scale:
  13. XLIAnd it is hereby enacted, that if any of the Proprietors shall become indebted to the said Bank, it
  14. XXXIIAnd it is hereby enacted, that the Directors of the said Bank of Madras shall not suffer any person
  15. VIAnd it is hereby enacted, that on the said 1[st] day of July 1843, or on some early day after that d
  16. XXVIIIAnd it is hereby enacted, that the Directors of the said Bank shall discount no Negotiable Security,
  17. XXXVIAnd it is hereby enacted, that the Directors of the said Bank shall cause the Books of the said Bank
  18. VIIAnd it is hereby enacted, that immediately on the opening of the said Bank of Madras the business of
  19. XXXVIIAnd it is hereby enacted, that an account of the profits of the said Bank shall be taken half yearly
  20. XLAnd it is hereby enacted, that it shall be lawful for the Bank of Madras, with the sanction of the G
  21. IIIAnd it is hereby enacted, that the Capital Stock of the Bank of Madras shall be Thirty Lakhs of Rupe
  22. XXIAnd it is hereby enacted, that any Proprietor or Proprietors entitled to vote at any General Meeting
  23. XXAnd it is hereby enacted, that it shall be lawful for the Governor in Council of Madras to give a pr
  24. XXXISection XXXI
  25. XXXAnd it is hereby enacted, that the Directors of the said Bank shall make no Loan other than such Loa
  26. XIAnd it is hereby enacted, that the said Share or Shares of the Capital Stock of the said Bank shall
  27. IIAnd it is hereby declared and provided, that if any of the person whose names are in the said Schedu
  28. XXXIVAnd it is hereby enacted, that it shall not be lawful for the said Bank to make, issue, or negotiate
  29. XXIIAnd it is hereby enacted, that at the first Meeting of the Directors, after their election, in every
  30. XXIIIAnd it is hereby enacted, that the presence of at least three Directors shall be necessary to form a
  31. XIIIAnd it is hereby enacted, that the business of the said Bank shall be managed by nine Directors, of
  32. XXXIIIAnd it is hereby enacted, that the said Bank of Madras may issue Promisesory Notes payable either on
  33. VIIIAnd it is hereby enacted, that on Monday of every week, so long as there are any Notes of the Govern
  34. IIt is therefore hereby enacted, that from the 1[st] day of July next ensuing, in the year of our Lor
  35. XVAnd it is hereby enacted, that two of the six Directors elected as provided in Section XIV. and to b
  36. XIIAnd it is hereby enacted, that the said Corporate body of the Bank of Madras shall consist and be co
  37. XVIAnd it is hereby enacted, that in case of the death, resignation or absence from Madras for more tha
  38. VAnd it is hereby enacted, that the Capital Stock of the Bank of Madras shall be divided into Shares
  39. XVIIAnd it is hereby enacted, that no person shall be capable of serving as a Director by election of th
  40. XXVIISection XXVII
  41. XXXVSection XXXV