LTN20170323293
LTN20170323293
LTN20170323293
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Appointment<br />
and<br />
remuneration<br />
ofmanagers<br />
Tenureof<br />
officeand<br />
powers<br />
Termsand<br />
conditionsof<br />
appointment<br />
Meetingsof<br />
Directors/<br />
Quorumetc.<br />
Convening<br />
ofboard<br />
meeting<br />
How<br />
questionsto<br />
bedecided<br />
c) ifanyoneormoreoftheDirectorshold (jointlyorseverallyordirectlyorindirectly) a<br />
controllinginterestinanothercompany, makealoantothatothercompanyorenter<br />
intoanyguaranteeorprovideanysecurityinconnectionwithaloanmadebyany<br />
persontothatothercompany.<br />
17 Managers<br />
17.1 TheBoardmayfromtimetotimeappointageneralmanager, managerormanagersofthe<br />
Companyandmayfixhisortheirremunerationeitherbywayofsalaryorcommissionorby<br />
conferringtherighttoparticipationintheprofitsoftheCompanyorbyacombinationoftwo<br />
ormoreofthesemodesandpaytheworkingexpensesofanyofthestaffofthegeneral<br />
manager, managerormanagerswhomaybeemployedbyhimortheminconnectionwith<br />
theconductofthebusinessoftheCompany.<br />
17.2 Theappointmentofsuchgeneralmanager, managerormanagersmaybeforsuchperiodas<br />
theBoardmaydecideandtheBoardmayconferuponhimorthemalloranyofthepowers<br />
oftheBoardasitmaythinkfit.<br />
17.3 TheBoardmayenterintosuchagreementoragreementswithanysuchgeneralmanager,<br />
managerormanagersuponsuchtermsandconditionsinallrespectsastheBoardmayin<br />
itsabsolutediscretionthinkfit, includingapowerforsuchgeneralmanager, manageror<br />
managerstoappointanassistantmanagerormanagersorotheremployeeswhatsoever<br />
underthemforthepurposeofcarryingonthebusinessoftheCompany.<br />
18 ProceedingsofDirectors<br />
18.1 TheBoardmaymeettogetherforthedespatchofbusiness, adjournandotherwiseregulate<br />
itsmeetingsandproceedingsasitthinksfitinanypartoftheworldandmaydeterminethe<br />
quorumnecessaryforthetransactionofbusiness. Unlessotherwisedeterminedthree<br />
Directors, ofwhomatleastonemustbeanindependentnon-executiveDirector, shallbea<br />
quorum. ForthepurposesofthisArticleanalternateDirectorshallbecountedinaquorum<br />
inplaceoftheDirectorwhoappointedhimandanalternateDirectorwhoisanalternatefor<br />
morethanoneDirectorshallforquorumpurposesbecountedseparatelyinrespectofhimself<br />
ifheisaDirector) andinrespectofeachDirectorforwhomheisanalternate (butsothat<br />
nothinginthisprovisionshallbeconstruedasauthorisingameetingtobeconstitutedwhen<br />
onlyonepersonisphysicallypresent). AmeetingoftheBoardoranycommitteeoftheBoard<br />
maybeheldbymeansofatelephoneortele-conferencingoranyothertelecommunications<br />
facilityprovidedthatallparticipantsaretherebyabletocommunicatecontemporaneouslyby<br />
voicewithallotherparticipantsandparticipationinameetingpursuanttothisprovisionshall<br />
constitutepresenceinpersonatsuchmeeting.<br />
18.2 ADirectormay, andonrequestofaDirectortheSecretaryshall, atanytimesummona<br />
meetingoftheBoard. FailinganydeterminationbytheBoard, notlessthan48hoursnotice<br />
thereofshallbegiventoeachDirectoreitherinwritingorbytelephoneorbyfacsimile, telex<br />
ortelegramattheaddressortelephone, facsimileortelexnumberfromtimetotimenotified<br />
totheCompanybysuchDirectororinsuchothermannerastheBoardmayfromtimetotime<br />
determineprovidedthatnoticeneednotbegiventoanyDirectororalternateDirectorforthe<br />
timebeingabsentfromHongKong.<br />
18.3 SubjecttoArticles14.19to14.24, questionsarisingatanymeetingoftheBoardshallbe<br />
decidedbyamajorityofvotes, andincaseofanequalityofvotestheChairmanshallhavea<br />
secondorcastingvote.<br />
Chairman<br />
18.4 TheBoardmayelectaChairmanofitsmeetingsanddeterminetheperiodforwhichheisto<br />
holdoffice; butifnosuchChairmaniselected, orifatanymeetingtheChairmanisnotpresent
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