The copper era and Morenci leader., 1913-10-03
PAGE NINE

PAGE NINE hold office only until the next follow. ing Ordinary General Meeting of the Company, and shall then be eligible for reelection.
 s66. No person other than a retir. I ing Director shall be elected a Direc- tor (except as a first Director or a I Director appointed by the Board) unless at least four and not mora than seven clear days notice shall have been left at the Registered Of flee of the Company of the intention to propose him, together with notice in writing by himself of his willing ness to be elected.
 9 ALTERNATE DIRECTORS.
 67. Every Director may appoint any person approved by the Board to be an alternate Director, and such ap- pointment shall have effect, and such appointee whilst he hold office, as an alternate Director shall be entitled to notice of Meetings of the Directors, and, in the absence of the Director appointing him, to attend and vote thereat accordingly, but he shall not require any qualification, and he shall ipso facto vacate office if and when the Director appointing him vacates office as Director or remove the alternate Director from office, and any appointment or removal under this clause shall be effected by notice in writing under the hand of the Df- rector making the same.
 68. Every person acting as an al- ternate Director shall while so acting be deemed an officer of the Company, and not to be the agent of the Direc- tor appointing him. The remunera- tion of any such alternate Director shall be payable out of the remunera- tion payable to the Director appoint ing him, and shall consist of such portion of the last mentioned remun- eration as shall be agreed between the alternate Director and the Director appointing him.
 3. QUALIFICATION AND REMUN-
 ERATION OF DIRECTORS.
 69 The qualification of a Director shall be the holding of 100 Shares of the Company. A Director may act before acquiring his qualification, but in any case he shall acquire the same within two months of his appoint ment
 70. The Directors shall be paid out of the funds of the Company by way of remuneration for their services at the rate of E100per annum each, with an additional $50 for the Chairman, the whole to be treated as accruing from day to day and payable quarterly. By way of further remuneration, the Directors shall also be entitled to re- ceive sum equal to 10 per cent. of the net profits available for dividend In each year. The said last mention ed remuneration shall be divided the Directors, in such pro portions and manner as the Directors nay determine, and in default of de- equally.
 71. In addition to the remuneration by the preceding Article, the NrectorS shall be repaid all une1r travelling and other expenses proper y andn ecessarily incurred by them n attending Meetings of the Directors IT Members or otherwise on the af- airs of the Company
 4. POWERS OF DIRECTORS. 72 The business of the Company hall be managed by the Board, who nay pay all expenses of or incident o the formation; registration, and .dvertising of the Company, and the ssue of it's capital The Board may xercise all the powers of the Com any, subject, nevertheless, %to the provisions of any Acts of Parliament r of these Articles, and to such regu- ations (being not considtent with any uch provisions of these Articles) as nay be prescribed by the Company n General Meeting, but no regulations nade by the Company in General Ieeting shall invalidate any prior act f the Board which would have been aid if such regulations had not been nade.
 73 Without restricting the gener- lity of the foregoing powers, the ,oard may do the following things:- (A) Establish local boards, local
 managing or consulting commit
 tees, or local agencies in the
 United Kingdom or abroad, and
 appoint any one or more Of
 their number or any other per
 son or persons to be members
 thereof, with such powers and
 authorities, under such regula-
 tions, for such period, and at
 such remuneration as they may
 deem fit, and may from time, : to time revoke aay Such ap-
 poiinntmehtt:: ~ (B) Appoint from time to time
 any one or more of their num-
 Der to be Managing Director or
 Managing Directors, on such
 terms as to remuneration, and
 with such powers and authori-
 ties, and for such period as they
 deem fit, and may revoke such
 appointment:
 co Appoint any person or per / sons, whether Director or Di-
 rectors of the Company or not,
 to hold in trust for the Com
 pany any property belonging to
 the Company, or in which it is
 interested, or for any other
 purposes, and execute and do
 all such instruments and things
 as may be requisite in relation
 to any such trust:
 CD Appoint, in order to execute
 any instrument or transact any
 business abroad, any person or
 persons the attorney or attor-
 neys of the Company with