such Subscription respectively, after an Abatement or Deduction of one Moiety or half Part of the first Payment to be forfeited as aforesaid.
Directors to appoint a Hose in or near London or Westminster to transact their business.VI. And be it further enacted by the Authority aforesaid, That it sall and may be lawful to and for his Majesty, in and by such Charter, to impower the Court of Directors of the said Company or Corporation for the Time being, and such Court of Directors shall and may, from time to time, fix upon and appoint a proper Place or House in or near the Cities of London or Westminster, for the transacting the Affairs and Bussiness of the said Company ;Directors to be a Court, and nominate all Officers and Servants; and that the Directors in the said Charter Directors to be a Court, named, and their Successors, or any five or more of them, shall be and be called a Court of Directors, and have full Power and Authority to act as such ; and that it shall and may be lawful to and and Servants for the said Court of Directors to meet as often as they shall think necessary or proper; and they are hereby authorized and impowered to nominate and appoint such Officers and Servants, or other Persons, as shall be any ways necessary to be employed in the Management and carrying on the Affairs of the said Company, and from time to Time to dismiss such Officers and Servants from their Employ, and nominate and appoint new ones in their Stead or Steads, or to encrease or lessen their Number, as such Court of Directors shall from time to time think proper, and to give such Orders and Directions for the Management of the Affairs of the said Corporation as they shall think proper, and are confident with the general Rules and Orders made by the said Corporation ;and to take Apprentice and to, take, from time to time, any Number of Apprentices to be employed in the Manufactury carried on by the said Company, upon such Terms and Conditions, and for such Number of Years, as to them shall seem meet ; and to affix the Common Seal of the said Corporation to a Counterpart of the Articles of Agreement, or Indentures of Apprenticeship, made with such Apprentices respectively, their Parents, Guardians or other Perfons authorized to put out and bind such Apprentices respectively.
A General Annual Court to he beld, the first Wednesday in March, for electing Directors.VII. And be it further enacted by the Authority aforesaid, That there shall be one General General Annual Court of the said Corporation, held on the first Wednesday in March in every Year, and as many to beheld, the first Wednesday inMarch in every year, and as many other General Courts as shall be necessary ; which said General Courts shall be held at any House or Place in the Cities of London or Westminster, which shall be appointed by the said Court of Directors ; of which said General Court, or any other General Courts to be called by any Court of Directors of the said Company, and which General Courts such Directors are hereby authorized to hold and call as often as such Court of Directors shall think the same necessary, ten Days Notice at the least shall be given in the London Gazette ; and that the said General Court, held on the first Wwdnesday in March yearly, shall be the Day of Election of Directors, who shall be chosen out of and from the Members of the said Corporation, by the Majority of Votes of all the Members then present.
Qualifications of Directors,VIII. And be it further enacted by the Authority aforesaid, That no Person shall be capable of being elected into or exercising the Office of a Director of the said Corporation but under the Qualification following (that is to say) that the Directors of the said Corporation shall severally be possessed of a Share or Interest in the said Stock in their own Right respectively, not less than five hundred Pounds Capital ; and that the Directors shall not continue in their respective Offices any longer than they shall respectively continue to be possessed of the said Share and Interest in the said Capital Stock, in his or their own Name and Right respectively; and that no Person shall be qualified to vote at any General Court, who shall not then be possessed of a Share or Interest in the said Capital Stock, to the Amount of two hundred Pounds at the least in his own Right;and Voters,and the number of Votes they may have. and that such and Voters, and the Person who in his own Right shall be possessed of five hundred Pounds Capital Stock, shall have two Votes at such General Court ; and that such Person who shall be possessed in his own Right of one thousand Pounds Capital Stock, shall have three Votes at such General Court ; but no Person shall have more than three Votes upon any Account whatsoever ; and if such Share or Interest of any Proprietor in the said Capital Stock shall be at any Time afterwards diminished from the Proportion herein before ascertained, that then the same shall be no longer a Qualification for voting at any General Court.
Members voting,to swear to their Qualifications, if required,IX. And be it further enacted by the Authority aforesaid, That all Proprietors shall, (if required) before they vote at any Court, take an Oath in the Form which shall be approved of by a General Court, to be administered to them by one of the Directors (who are hereby authorized and impowered to administer the same, or to direct such Oath to be administered by any other Person or Persons in his or their Presence) declaring their Property, Share or Interest in the Capital Stock of the said Corporation, and the Quantum thereof, and that the same, or any Part thereof, is not in Trust for any other Person or Persons, and that no Person shall be admitted to vote at any such Court who shall refuse to take such Oath; Oficers, &c. to be sworn according to the Form approved by a General Court; and all Officers and Servants of the said Corporation shall, if required by the Court of Directors, before they enter on their respective Offices, likewise take an Oath in the Form which for that Purpose shall be approved by a General Court of the said Corporation, to be administered by the Directors of the said Corporation, or any one of them, for the due and faithful Discharge of their respective Offices ; which Oath such Directors, or any one of them, are hereby authorized and impowered to administer, or direct the same to be administered by any other Person or Persons in his or their Presence; resusing or neglecting to take such Oath for 10 Days Election void.and in case any such Officer or Servant shall refuse or neglect to take such Oath for the Space of ten Days after he or they shall be chosen or appointed to any such Office or Offices as aforesaid, if required, such Choice or Appointment shall be void, and a new Election or Appointment made.
