The East India Company - Organization Structure, Control and Governance

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Governance Contd...

* The Books containing the general Accounts of the Company in England shall be balanced to the 30th Day of June every year.
* All receipts and payments ordered by the Court of Directors shall be made in the course without any undue preferences. And every officer acting otherwise shall be dismissed.
* Upon every Annual Election of Directors, at least seven months Public Notice shall be given thereof and that names of the Members who appear qualified to vote be ready to be delivered, the first at least five months and the second at least fourteen days before the Day of the Election.
* Any person who is a member of the Company shall Trade within the limits ofthe Company's Charter.
* No orders shall be sent by the Directors to or obeyed by any of the agents or Factors of the Company in India or any other parts unless such orders are signed by thirteen or more Directors.
* The Court of Directors shall not allow any person to export or import any money, goods, or merchandize in any ship belonging to or freighted by the Company other than that licensed by the said Court of Directors or empowered by the Court to grant such licenses.

* The General Court to be held yearly in the month of June. A Committee of Seven shall be chosen, out of which four to form a quorum who shall be authorized and empowered to inspect the By Laws and to make enquiry into the observance and execution of the By Laws and consider what alterations and additions be made and report their opinion from time to time to the General Court.
* At the Court of Directors every Annual Election, a chairman and deputy chairman to be chosen for the year by the ballot and each of them be allowed two hundred pounds a year and every other Director be allowed one hundred and fifty pounds a year.
* Every Director has the liberty to inspect and take copies of Accounts, letters and papers relating to the Company's Affairs as he shall think fit, except those before the select committee.

* The report of every committee be signed and laid before the Court of Directors the following meting.
* The Directors are not authorized to create any new office either at home or abroad with any salary exceeding one hundred pounds per annum without the approbation of the Court of Directors.
* The list of candidates for the Directorship shall be published fourteen days before the annual election. Such list would contain the names of such proprietors, and their desire of becoming candidates for Directorship.

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