14 
PROCEEDINGS eF THE VICTORIA INSTITUTE, 
the Association, with annual salaries or otherwise, to engage 
professional assistance, and to remunerate all persons employed 
by them ; and, subject to the provisions of the Memorandum of 
Association and these Articles, to appoint their own meetings, 
fix their own quorum, and regulate their own proceedings, to 
manage and superintend the affairs of the Institute, and act in 
the name of the Institute, and for that purpose to order the seal 
of the Institute to be fixed to any Petition, Memorial, or other 
Document, and generally to execute all powers and functions 
of the Institute not hereby conferred upon General Meetings of 
the Institute. 
12. The Board shall have power to make, alter, or revoke 
Bye-laws for carrying on the business of the Institute, provided 
always that the Bye-laws in force shall not be repugnant to the 
Memorandum of Association or Articles of Association. 
lo. The Board shall have the sole disposal and control of all 
revenues accruing to the Institute ; but if the liabilities exceed 
the assets for three successive quarters, or the deficiency exceeds 
one hundred pounds, the Governor shall have authority to assume 
control of the expenditure, and to appoint an officer to supervise 
the expenditure until such time as the accounts are brought to 
an equal balance. 
14. As soon as practicable after the Annual General Meet- 
ing of the Institute Jhe Board shall meet and elect from among 
themselves a President, two Vice-Presidents, a Secretary and a 
Treasurer. The election of the Secretary and Treasurer shall be 
subject to the approval of the Governor and they shall hold 
office during the pleasure of the Governor. 
15. The Board shall have power to admit a class of 
Associates with such privileges as the Board may from time to 
time determine. 
16. The Board may elect as correspondents such persons 
not permanently resident in the Island as are likely to contribute 
towards the advancement of the objects of the Institute. 
