THE COMPANY of SCOT­LAND, Trading to AFRICA and the INDIES, have upon Ma­ture Deliberation Agreed, and Conclu­ded upon the following Rules, Ordi­nances, and Constitutions, as appear­ing the most Reasonable, Equal and Suteable unto them, To be Binding and Obliging to the said COMPANY.

1. The Direction and Govern­ment of this COMPANY, shall be, and remain in a COURT of Fifty DI­RECTORS; Twenty Five whereof shall be made, and chosen, by Majority of Votes of the COMPANY in SCOTLAND, taken by Scroll and Scrutiny, upon Thursday the Seventh Day of May, One Thousand six [Page 2]Hundred Ninety six; every Hundred Pound sterl. having One Vote, Which DIRECTORS so chosen, are to Chuse and Admit other Five and Twenty, to compleat the Number of Fifty.

2. Upon some Day or Time in the Month of March, yearly, One in every Ten shall be l [...]t out of the Number of DIRECTORS, by the COURT of DIRECTORS, and Others Elected and Chosen in Their Place, by the COUNCIL GENERAL. And in case of the Death, Re­signment, or other Removal of any of the DIRECTORS, others shall be chos [...]n in their Place, by the COURT of DIRECTORS of this COMPANY.

3. The COURT, or COUNCIL GENERAL of this COM­PANY, shall consist of the COURT of DIRECTORS the [...]eof, toge­ther with One Person, other than a DIRECTOR, bei [...]g a Proprietor, to represent every Ten Thousand Pounds sterl. Property in this Joint Stock, or Capital Fund, either by his own Right, or by Deputation from others therein concern'd▪ In which Representation, the DIRECTORS (being Members of the COURT) shall have no Votes, not Repre­sentation chosen by themselves: But in such Case, or when any of the Subscribers shall neglect to give in their Nomination of Representa­tives, at, or before the Second Wednesday of June, One Thousand six Hundred Ninety six, for the first Time, and from thence forward, at, or before the last Wednesday of February Yearly; the other COUNCEL­LORS, (exclusive of the DIRECTORS) shall Nominate others to com­pleat the Number of One Councellor, for every Ten Thousand Pound Stock, which Election is to continue for that Year.

4. The Annual Meeting of the GENERAL COUNCIL, shall be upon the Second Wednesday in March Yearly, wi [...]h Power [...]o them to Adjourn to such other Diets, as they think sit; and to the DIRECTORS to Call a GENERAL COUNCI [...] as occasion Requires.

5. The General Accompts, and other Affairs of the COMPANY, shall Yearly, or oftner (if Requir'd) be laid before the COUNCIL GE­NERAL, who may displace or remove any of the DIRECTORS, or COUNCIL, for Mis-demeanors. No Person or Persons, whetherof the COURT of DIRECTORS or COUNCIL, being allow'd to Vote in the Matters wherein He or They are Concern'd.

6. The Major Part of the COUNCIL GENERAL, or COURT of DIRECTORS in being for the Time, shall always be a Quorum.

7. The COUNCIL or COURT of DIRECTORS, may from Time to Time make and Constitute Committees, or Sub-Committees of their Own Number, to Act in their Respective Names and Places; who shall keep Exact Minutes, Journals, and other Accompts of their Pro­ceedings.

8. No Dividend of the Profits or Product of this Joint-Stock, or Capital Fund shall be made, but by Consent and Advice of the COUNCIL GENERAL.

9. If any of the Proprietors of the said Stock, shall not Pay or cause to be Pay'd, the Proportionable Part of His, or Their Subscriptions, in [Page 3]such Time and Manner, as sh [...]ll be Appointed by the COMPANY; Or in case they or any of them shall become Indebted to the said COMPA­NY, any other way howsoever, the share of Stock belonging to such Person or Persons, shall in either case be Rouped and Sold to such as will pay the Sum Requir'd, or the Debt due to the COMPANY, and the Superplus, if any be, shall belong to the Party.

AGreed unto, and Concluded upon, by a General Meeting of the said Company, And order'd to be Recorded in Their Books and Registers.