16. (a) The directors may exercise all the powers
of the Company without restriction or limitation to borrow money and to
mortgage or charge all or any part of the undertaking, property and
assets (present and future) and uncalled capital of the Company and to
issue debentures, debenture stocks, bonds and other securities, whether
outright or as collateral security for any debt, liability or obligation
of the Company or of any third party. Debentures, debenture stocks,
bonds and other securities of the Company may be made assignable free
from any equities between the Company and the person to whom the same
may be issued, and may be issued at a discount, premium or otherwise and
with any special privileges as to redemption, surrender, drawings,
allotment of shares, attending and voting at general meetings of the
Company, appointment of directors and otherwise.
(b) The directors shall cause a proper register to be kept, in
accordance with the provisions of the Ordinance, of all mortgages and
charges affecting the property of the Company and shall duly comply with
the requirements of the Ordinance in regard to the registration of
mortgages and charges therein specified and otherwise. Where any
uncalled capital of the Company is charged, all persons taking any
subsequent charge thereon shall take the same subject to such prior
charge, and shall not be entitled, by notice to the members or
otherwise, to obtain priority over such prior charge.
17. The Company may, from time to time, by ordinary resolution appoint
18. The Company may also by ordinary resolution remove any director
notwithstanding anything in these Articles or in any agreement between
him and the Company and may, appoint another person in his stead.
19. The directors shall have power, exercisable at any time and from
time to time, to appoint any other person as a director, either to fill
a casual vacancy or as an addition to the Board.