93. The Board and any Committee may appoint Managers and Agents either in this Colony of New Zealand, or abroad, who shall act under their direction respectively, and shall receive such emoluments and allowances as the said Board or Committee may respectively determine.

94 The Board and any Committee may appoint a Secretary, who shall act under their direction, and shall receive such salary as the said Board or Committee, as the case may be, shall determine.

95. Such Secretary, Superintendent, Managers, Agents, Clerks, and other Officers and Servants as the Directors think requisite for carrying on the Company's business, shall be appointed by the Board, who shall determine their powers, duties, emoluments, salaries, wages, or allowances, and who likewise may suspend and remove them.

96. The Directors, Trustees, and other Officers shall be paid, and be indemnified by the Company from all losses and expenses incurred by them in or about the discharge of their respective duties, except such as happen from their own respective wilful and wrongful act or default.

97. No Director, Trustee, or Officer shall be liable for any other Director, Trustee, or Officer, or for joining in any receipt or other act for conformity, or for any page 34 loss or expense happening to the Company, except such as happen from his own wilful and wrongful act or default.

98. The accounts of any Trustee or Officer may he settled and allowed, or disallowed either wholly or in part, by the Board.

99. The Secretary shall not, except under the direction of the Board, allow any inspection of the Company's records, books, or papers other than those which by the Statutes are required to be open to inspection only during business hours, from ten o'clock to four o'clock.

100. An Officer becoming bankrupt or insolvent, or publicly compounding with his creditors, shall there-upon be disqualified from acting as, and shall cease to be, an officer.

101. Provided that until an entry of the disqualification be made on the minutes of the Board, his acts in his office shall be as effectual as if he continued to be duly qualified.