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THE BANK OF PUNJAB ACT, 1989 THE BANK OF PUNJAB ACT, 1989 25. Power of the Board to make bye-laws. (1) The Board may, with the previous approval of the Government, make bye-haws not inconsistent with this Act to provide for all matters for which provision is necessary or convenient for the purpose of giving effect to the provisions of this Act. (2) In particular and without prejudice to the generality of the foregoing provisions, such bye-laws may provide for all or any of the following matters, namely:-- (i) the maximum amounts which may be advanced or lent to, or for which bills may be discounted for or purchased from, any individual or partnership-firm with or without security; (ii) the conditions subject to which loan advances may be made to Directors, or officers, or other staff of the Bank, or the relatives of such Directors, or officers, or other staff or to companies, firms or individuals with which 'or with whom such Directors, officers or other staff or relatives are connected as partners, Directors, managers, servants, shareholders or otherwise; (iii) the manner in which and the conditions subject to which the Bank may take over the business, including the capital; assets and liabilities, of airy other bank; (iv) the granting of advances or loans to any other bank for the purpose of averting or facilitating its winding up; (v) the procedure and manner in which the capital of the Bank may be increased or reduced; (vi) the acquisition, maintenance and transfer of the Bank's residential and business premises; (vii) the contents, maintenance, inspection and closer of the register of shareholders; (viii) the books and accounts to be kept at the various officers of the Bank (ix ) the balancing of accounts and ascertainment of profit and loss; (x) the form and manner in which the balance sheet and the statement of profit and loss shall be drawn up; (xi) the determination and payment of dividend and transfer of profits to reserves;' (xii) the preparation and transmission of return to the Government; [Subs. by The Bank of Punjab (Amendment,) Act, 8 of 1991, S. 10.] (xiii) the evidential value, form, issue and renewal of certificates of shares; (xiv) the calls on shares, the payment of such calls, joint and several liabilities of shareholders in respect of such calls, the Bank's lien on shares, the manner of its enforcement, forfeiture and the application of proceeds of sale; (xv) the manner in which and the conditions subject to which shares may be allotted, held, transferred and transmitted and generally all matters relating to the rights and duties of shareholders; (xvi) the manner in which general and special meeting shall be convened and held, the quorum there at, the procedure to be followed at such meetings, the manner in which votes may be exercised and the appointment and election of Chairman of such meetings; (xvii) the holding and conduct of elections under this Act; (xviii) the final decisions on doubts and of disputes regarding the qualifications of candidate or the validity of elections; the manner in which meetings of the Board shall be convened and held, their quorum, the procedure to be followed at such meetings, votes of Directors, and ex-officio Members and the manner- 'in which they may be exercised, and the appointment or/and election of Chairman of such Board; (xx) the effect of vacancies in the Board and of subsequent discovery of disqualifications of a Director; (xxi) the obligations and immunities of Directors; (xxii) the distribution. of business amongst the Directors and their remuneration, if any; . (xxiii) the delegation of any powers of the Board to committees consisting of Directors, as the case maybe, and the conduct of business in such committees; (xxiv) the establishment and discontinuance of branches and agencies in Punjab or elsewhere and the nature and extent of the business any branch or agency may transact; (xxv) the recruitment of officers and staff of the Bank including the terms and conditions of their service and the constitution and management of staff and superannuation funds for the officers and servant of the Bank; (xxvi) the authority to draw. accept, endorse and execute documents on behalf of the bank; (xxvii) the provision of common and official seals of the Bank and the manner and effect of their use; (xxviii ) the manner and form in which contracts binding on the Bank may be executed; (xxix) the conduct, institution and defence of legal proceedings and the manner of signing pleadings; (xxx) the address of shareholders and the issue and service of notices; (xxxi) the service of notice on the Bank: anal . (xxxii) generally, for the efficient conduct of the business discharge of functions and management of the Bank..