Section V. And it is hereby enacted, that the Capital Stock of the Bank of Madras shall be divided into Shares

V. And it is hereby enacted, that the Capital Stock of the Bank of Madras shall be divided into Shares of One Thousand Rupees each, which shall be numbered accordingly, and Three Hundred of the said Shares numbered from No. 1 to 300 shall be the property of the Governor in Council of Madras, for the time being, on behalf of the East India Company, and the remainder shall be the property of the Proprietors who shall have paid up the same, and no separate interest of Share in the Stock o the paid Bank of less amount than 1,000 Rupees shall be created or held by any Proprietors, and if at any time the Capital of the said Bank shall be increased, the new Stock added thereto shall in like manner be divided into Shares of 1,000 rupees each, and no Proprietor shall be entitled to claim a share of such new Stock of less amount than 1,000 Rupees.