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4) 
SECRETARIAL PRACTICE 
Dividends and: Reserve. 
~ 89. The company in general meeting may declare dividends, but 
no dividend shall exceed the amount recommended by the directors. 
96. The directors may from time to time pay t& the members 
such interim dividends as appear to the directors to be justified by 
the profits of the company. 
91. No dividend shall be paid otherwise than out of profits. 
92. Subject to the rights of persons, if any, entitled to shares 
with special rights as to dividends, all dividends shall be declared 
and paid according to the amounts paid on the shares, but if and 
so long as nothing is paid up on any of the shares in the company 
dividends may be declared and paid according to the amounts of 
the shares. No amount paid on a share in advance of calls shall, 
while carrying interest, be treated for the purposes of this article 
as paid on the share. 
93. The directors may, before recommending any dividend, set 
aside out of the profits of the company such sums as they think 
pIOPEr as a reserve or reserves which shall, at the discretion of the 
directors, be applicable for meeting contingencies, or for equalising 
dividends, or for any other purpose to which the profits of the com- 
pany may be properly applied, and pending such application may, 
at the like discretion, either be employed in the business of the com- 
pany or be invested in such investments (other than shares of the 
company) as the directors may from time to time think fit. 
94. If several persons are registered as joint holders of any share, 
any one of them may give effectual receipts for any dividend or 
other moneys payable on or in respect of the share. 
95. Any dividend may be paid by cheque or warrant sent through 
the post to the registered address of the member or person entitled 
thereto or in the case of joint holders to any one of such joint holders 
at his registered address or to such person and such address as the 
member or person entitled or such joint holders as the case may 
Je may direct. Every such cheque or warrant shall be made 
payable to the order of the person to whom it is sent or to the order 
of such other person as the member or person entitled or such joint 
holders as the case may be may direct, 
96. No dividend shall bear interest against the company. 
Accounts. 
97. The directors shall cause proper books of account to be kept 
with respect to— 
All sums of money received and expended by the company 
and the matters in respect of which the receipt and expenditure 
takes place; 
All sales and purchases of goods by the company; and 
The assets and liabilities of the company.