The copper era and Morenci leader., 1913-09-19
PAGE NINE

hold office only until the next follow | ing Ordinary General Meeting of the Company, and shall then be eligible | for reelection.
 66. No person other than ret1r- 1 ing Director shall be elected a Direc- | tor (except as a first Director or Director appointed by the BoardD
 unless at least four and not more
 than seven clear days notice shall
 have been left at the Registered Of
 fee of the Company of the intention
 to propose him, together with a notice 1 in writing by himself of his willing ness to be elected
 i 9 ALTERNATE. DIRECTORS
 CT. 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 Di- 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- fr he 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-
 GRAFTON OF DIRECTORS
 69 The qualification of a Director
 shall be the holding of 100 Shares or
 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 W
 se7O. The Directors shall be paid out of the funds of the Company by way
 of remuneration for their services at the rate of G1O0per annum each, with an additional $50 for the Chairman,
 the whole to be treated as accrulns from day to day and payable quarterly
 By way of further remuneration. the
 Directors shall also be entitled to re- Eceiye a sam equal to 10 per cent Of the net profits available for dividend in each year. The said last mention
 ed remuneration shall be divided
 amongst the Directors, in such pro portions and manner as the Directors may determine, and in default of de- termination equally.
 Fl. In addition to the remuneraron
 provided by the preceding Article. the Uurecuors shall be repaid all NneH travelling and other expenses proper | ly andn ecessarily incurred by them in attending Meetings of the Directors or Members or otherwise on the ar- fairs of the Company.
 POWERS OF DIRECTORS 72. The business of the Company shall be managed by the Board, who
 may nay all expenses of or incident | to the formation, registration and l advertising of the Company, and the issue of it's capital. The Board may | exercise all the powers of the Com l pany, subject, nevertheless, to tne
 provisions of any Acts of Parliament l or of these Articles, and to such regu- | lations (being not considtent with any l such provisions of these Articles) as
 may be prescribed by the Company in General Meeting, but no regulations il made by the Company in General Meeting shall invalidate any prior act of the Board which would have been I valid if such regulations had not been made.
 73. Without restricting the gener- n ality of the foregoing powers, the ; Board may do the following things Il (Ao Establish local boards, local r managing or consulting commit tees, or local agencies in the United Kingdom or abroad, ana appoint any one or more ol their number or any other per son or persons to be members , thereof, with such powers ana authorities, under such reguiar , tions. for such period, and at such remuneration as they may
 deem fit, and may from tune , to time revoke any such ap' r pointment:
 !, CR) Appoint from time to time | any one or more of their mum II Der to be Managing Director oi al Managing Directors, on suc1 terms as to remuneration, anc l. with such powers and authori n ties. and for such period as they n deem fit,. and may revoke suci t appointment:
 co Appoint any person or per
 sons. whether a Director or Dl r rectors of the Company or not to hold in trust TOT the Con' |, pany any property belonging | the Company, or in which 1t I interested, or for any othe purposes, and execute and d ,,i all such instruments and thing {. as may be requisite in relatio' e to any such trust:
 l. D) Appoint, in order to execut any instrument or transact an business abroad, any person O - - persons the attorney or attol Is news of the Company wit y ...eh ,,ourors as the Board deer