Section III. And it is hereby enacted, that the Capital Stock of the Bank of Madras shall be Thirty Lakhs of Rupe

III. And it is hereby enacted, that the Capital Stock of the Bank of Madras shall be Thirty Lakhs of Rupees, whereof Three Lakhs shall be the property of the Governor in Council of Madras, for the time being on behalf of the East India Company, and the persons whose names are in the Schedule hereunto annexed, or in any Schedule corrected in the manner provided for in the 1[st] Section of this Act, or whose names shall be in the Schedule published by order of the Governor in Council at Fort St. George in the Official Gazette of that Presidency as required in Section II. of this Act, shall be Proprietors of the Shares of the said Capital Stock set against their names respectively.