Section II. And it is hereby declared and provided, that if any of the person whose names are in the said Schedu

II. And it is hereby declared and provided, that if any of the person whose names are in the said Schedule shall have failed to make good their subscriptions on or before the 1[st] day of May last past, the Shares to which such names are attached were claimable and might be taken by the persons who having made applications for Shares which were received after the prescribed amount of Capital had been taken and subscribed for by the parties in the said Schedule, had been permitted to have their said applications registered as received: and the Shares which shall have so lapsed having been tendered to such applicants in the order of such registry according to the list given in to the Governor in Council at Fort Saint George, shall be and are the property of such persons provided they shall have in the manner heretofore mentioned paid up their subscriptions on or before the 20[th] day of May last past. And in the event of there having remained any unpaid Shares after the parties whose names had been so registered-had thus has the option of completing the payment due on such Shares, then such remaining unpaid Shares are declared to have been at the disposal of General Meeting of the Proprietors convened for the purpose: And it is hereby enacted, that the persons who shall have become the Proprietors of the lapsed Shares in the manner above provided or under an appropriation made at such General meeting of Proprietors by payment of the amount subscribed shall be considered to belong, and shall to all intents and purpose belong to the Corporation Body Corporate and Politic by name of the Bank of Madras, and shall possess and enjoy all the rights, privileges, and immunities the same as the persons according to the Original Schedule who shall have paid up their subscriptions on or before the 1[st] day of May last past. AND it is hereby declared and required that as soon the promulgation of this Act, as may be practicable, the Governor in Council as Fort Saint George shall publish in the Official Gazette of that Presidency a Schedule of the Proprietors of the Bank of Madras as incorporated under the provisions of this Act, and that the same shall be transmitted to be re-published in the Official Gazette of Calcutta.