80. The Books of Account shall be kept at the principal office of the Company and subject to any reasonable restrictions as to the time and manner of inspecting the same that may be imposed by the Company in general meeting shall be open to the inspection of the Shareholders.

81. Once at the least in every half-year the Directors shall lay before the Company in general meeting a statement of the income and expenditure for the past half-year made up to a date not more than three months before such meeting.

82. The statement so made shall show arranged under the most convenient heads the amount of gross income distinguishing the several sources from which it has been derived and the amount of gross expenditure distinguishing the expense of the establishment salaries and other like matters Every item of expenditure fairly chargeable against the half-year's income shall be brought into account so that a just balance of profit and loss may be laid before the meeting and in cases where any item of expenditure which may in fairness be distributed over several half years has been incurred in any one half-year the whole amount of such item shall be stated with the addition of the reasons why only a portion of such expenditure is charged against the income of the half-year.

83. A Balance sheet shall be made out in every half year and laid before the general meeting of the Company and such balance sheet shall contain a summary of the property and liabilities of the Company arranged under the heads appearing in the form annexed to these articles or as near thereto as circumstances admit.

84. A Printed copy of such balance sheet shall seven days previously to such meeting be delivered at or sent by post to the registered address of every Shareholder.

85. Sufficient and proper books shall be provided and always kept in use for the purpose of the Company under the superintendence of the Board of Directors and by such titles as the Board shall determine and full and sufficient entries shall be made in such books of all policies risks undertakings and engagements entered into by or on behalf of the Company in every branch of its said business and also of all payments to or receipts by or on account of the Company and of all credits liabilities matters and transactions which shall properly be the subject of page 31 debit and credit account or in which the Company or its property may be concerned or interested so that the financial state of the Company may at all times appear as accurately and clearly as the circumstances will permit and the Board of Directors shall cause their books to be balanced up to the last day of December and the last day of June in every year and shall make to the general meeting to be holden during the month of August in the year one thousand eight hundred and seventy-seven and to every subsequent general annual and half-yearly meeting a full report of the prospects and state of the Company with all such particulars as shall be necessary for the full explanation of the profit and loss accounts and balance sheets.

86. All instalments and calls to be paid on account of shares in the Company shall be paid to and received by the Bankers of the Company or otherwise as directed by the Board of Directors and all cheques or orders upon the Bankers shall be signed by not less than two Directors and be countersigned by the Secretary.

87. The amount of all instalments and calls to be paid in respect of each share and also all other sums of money to be received (except as herein excepted) shall be part of the capital of the Company and shall be applicable generally for carrying on the business of the Company and for the payment of the expenses which shall be necessarily incurred in and about the establishment of the Company acquiring and purchasing building renting or hiring the lands offices and buildings which shall be found requisite for carrying on the affairs of the Company and for liquidating all the liabilities and for fulfilling all the contracts and engagements entered into or incurred in respect of the Company and its incorporation and for payment of the costs of preparing and perfecting these articles and any duplicate hereof and for indemnifying the Directors and other officers of the Company against all liabilities they may lawfully incur in transacting the affairs of the Company in pursuance of these presents and generally for defraying all ordinary expenses disbursements and incidental charges whatsoever to be incurred in and about the affairs of the Company and the surplus capital for the time being of the Company shall be invested in all or any of the modes following and such investments may from time to time he transposed for or into others of any nature hereby authorised at discretion and such investments may be made either by the Board of Directors at Wellington or by Local Boards of Directors upon Government or real securities in the Colony of New Zealand or upon good debentures shares stock or securities of any Company incorporated by Royal Charter or by the Act of the Imperial Parliament or of the Colonial Legislature and paying a dividend or on such other investments real leasehold or personal as such Board of Directors or Local Board of Directors may deem expedient.