Section XIV. And it is hereby enacted, that the first Directors of the said Bank shall be such three person as ma

XIV. And it is hereby enacted, that the first Directors of the said Bank shall be such three person as may be appointed by the Government in Council of Madras to be Directors of the Bank, together with six persons of those whose names are inserted in the Schedule of Proprietors published in the Official Gazette of Fort St. George, in the manner prescribed by Section II. of this Act, and who being entitled to not less than six Shares or 6,000 Rupees of the Capital Stock of the said Bank, shall be elected at a General Meeting of the persons whose names are inserted in the said Schedule to be held at such time and place as the Governor in Council of Madras may fix by public notification in the Official Gazette of that Presidency, and the election shall be made by the persons who according to the said Schedule of Proprietors may be entitled to Shares of the Capital Stock of the Bank, and the said persons shall vote at such election in person or by proxy according to the quantity of Stock respectively held by them, and the Directors so appointed shall appoint Officers, and take all necessary steps for opening the Bank when this Act shall take effect for its incorporation, and the rotation amongst the six Directors first appointed under the next preceding Section, shall be established according to the number of votes; the two Directors elected by the fewest votes first vacating and the next two in the year following, and so in succession in the third year.