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No. II. —Abstract of the Constitution and Ob-
JECTS OF THE BANK OF SCOTLAND .
Wm Pari. l.§5,14. Geo. 5. c. 32.. . 24. Geo. 3. c. 8.
I. The Bank of Scotland is a public National 32.Geo.3. c. 25.Establishment, erected and regulated by the Legis- 54.Geo.3.c. 19.lature, and not by private contract. AA r '“° s
44. Geo. 5. c.23.
II. The statutory capital is at present One Mil- 4 ‘ 1 - Geo.3. c.23-lion and a Half of Pounds Sterling . It is raised by
voluntary subscription, and has been subscribed for.
One million has been called for, and paid in.
III. Subscribers, if not under obligations to the WmParl.l.§5.Bank, may, at pleasure, transfer their right. If
under obligation to the Bank , the obligation musthe previously liquidated, or the proceeds of the saleapplied towards such liquidation. Transfers are made WmParLl. § 3 ,by a short assignment and acceptance thereof, bothin a register appointed for that purpose. The ex-pense, besides the Government stamp, is eleven shil-lings.
IV. Bank of Scotland Stock may be acquired, WmParl.i.§5-in any portions, by any person, community, or 0 -
ther lawful party whatsoever, without Selection, Ex-clusion, or Limitation of Numbers.
V. Bank of Scotland Stock may be conveyed by WmParH. 55 .latter-will; and, if specially mentioned, without ex-pense of confirmation. It cannot be arrested; but
the individual holder’s right maybe adjudged. Di-vidends may be arrested,
VI. The Bank of Scotland is a public Incorpora- WmParl.1. § j.tion by act of Parliament . Its transactions are dis-tinct from those of individual stockholders, and
theirs from those of the Bank .
VII. The establishment is expressly debarredfrom Win Purl. 1 . § 5 .any other business than that of banking.
VIII. The management is vested in a Governor, WmParl.l.§5,Deputy-Governor, twelve Ordinary, and twelve Ex-