model articles for public companies1

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SCHEDULE 3 Regulation 4

MODEL ARTICLES FOR PUBLIC COMPANIES

INDEX TO THE ARTICLES

PART 1

INTERPRETATION AND LIMITATION OF LIABILIT

1! De"ine# te$%&

'! Lia(ilit) o" %e%(e$&

PART '

DIRECTORSDIRECTORS* PO+ERS AND RESPONSIBILITIES

3! Di$e,to$&* gene$al aut-o$it)

4! Me%(e$&* $e&e$.e /o0e$

! Di$e,to$& %a) #elegate

2! Co%%ittee&

DECISIONMAIN5 B DIRECTORS

6! Di$e,to$& to ta7e #e,i&ion& ,olle,ti.el)

8! Calling a #i$e,to$&* %eeting9! Pa$ti,i/ation in #i$e,to$&* %eeting&

1:! ;uo$u% "o$ #i$e,to$&* %eeting&

11! Meeting& 0-e$e total nu%(e$ o" #i$e,to$& le&& t-an <uo$u%

1'! C-ai$ing #i$e,to$&* %eeting&

13! =oting at #i$e,to$&* %eeting&> gene$al $ule&

14! C-ai$%an*& ,a&ting .ote at #i$e,to$&* %eeting&

1! Alte$nate& .oting at #i$e,to$&* %eeting&

12! Con"li,t& o" inte$e&t

16! P$o/o&ing #i$e,to$&* 0$itten $e&olution&

18! A#o/tion o" #i$e,to$&* 0$itten $e&olution&

19! Di$e,to$&* #i&,$etion to %a7e "u$t-e$ $ule&

APPOINTMENT OF DIRECTORS

':! Met-o#& o" a//ointing #i$e,to$&

'1! Reti$e%ent o" #i$e,to$& () $otation

''! Te$%ination o" #i$e,to$*& a//oint%ent

'3! Di$e,to$&* $e%une$ation

'4! Di$e,to$&* e?/en&e&

ALTERNATE DIRECTORS

'! A//oint%ent an# $e%o.al o" alte$nate&



'2! Rig-t& an# $e&/on&i(ilitie& o" alte$nate #i$e,to$&

'6! Te$%ination o" alte$nate #i$e,to$&-i/

PART 3

DECISIONMAIN5 B MEMBERSOR5ANISATION OF 5ENERAL MEETIN5S

'8! Me%(e$& ,an ,all gene$al %eeting i" not enoug- #i$e,to$&

'9! Atten#an,e an# &/ea7ing at gene$al %eeting&

3:! ;uo$u% "o$ gene$al %eeting&

31! C-ai$ing gene$al %eeting&

3'! Atten#an,e an# &/ea7ing () #i$e,to$& an# non%e%(e$&

33! A#@ou$n%ent

=OTIN5 AT 5ENERAL MEETIN5S

34! =oting> gene$al

3! E$$o$& an# #i&/ute&

32! De%an#ing a /oll

36! P$o,e#u$e on a /oll

38! Content o" /$o?) noti,e&

39! Deli.e$) o" /$o?) noti,e&

4:! A%en#%ent& to $e&olution&

RESTRICTIONS ON MEMBERS* RI5HTS

41! No .oting o" &-a$e& on 0-i,- %one) o0e# to ,o%/an)

APPLICATION OF RULES TO CLASS MEETIN5S

4'! Cla&& %eeting&

PART 4

SHARES AND DISTRIBUTIONS

ISSUE OF SHARES

43! Po0e$& to i&&ue #i""e$ent ,la&&e& o" &-a$e

44! Pa)%ent o" ,o%%i&&ion& on &u(&,$i/tion "o$ &-a$e&

INTERESTS IN SHARES

4! Co%/an) not (oun# () le&& t-an a(&olute inte$e&t&

SHARE CERTIFICATES

42! Ce$ti"i,ate& to (e i&&ue# e?,e/t in ,e$tain ,a&e&

46! Content& an# e?e,ution o" &-a$e ,e$ti"i,ate&48! Con&oli#ate# &-a$e ,e$ti"i,ate&



49! Re/la,e%ent &-a$e ,e$ti"i,ate&

SHARES NOT HELD IN CERTIFICATED FORM

:! Un,e$ti"i,ate# &-a$e&

1! S-a$e 0a$$ant&

PARTL PAID SHARES

'! Co%/an)*& lien o.e$ /a$tl) /ai# &-a$e&

3! En"o$,e%ent o" t-e ,o%/an)*& lien

4! Call noti,e&

! Lia(ilit) to /a) ,all&

2! +-en ,all noti,e nee# not (e i&&ue#

6! Failu$e to ,o%/l) 0it- ,all noti,e> auto%ati, ,on&e<uen,e&

8! Noti,e o" inten#e# "o$"eitu$e

9! Di$e,to$&* /o0e$ to "o$"eit &-a$e&2:! E""e,t o" "o$"eitu$e

21! P$o,e#u$e "ollo0ing "o$"eitu$e

2'! Su$$en#e$ o" &-a$e&

TRANSFER AND TRANSMISSION OF SHARES

23! T$an&"e$& o" ,e$ti"i,ate# &-a$e&

24! T$an&"e$ o" un,e$ti"i,ate# &-a$e&

2! T$an&%i&&ion o" &-a$e&

22! T$an&%ittee&* $ig-t&

26! E?e$,i&e o" t$an&%ittee&* $ig-t&

28! T$an&%ittee& (oun# () /$io$ noti,e&

CONSOLIDATION OF SHARES

29! P$o,e#u$e "o$ #i&/o&ing o" "$a,tion& o" &-a$e&

DISTRIBUTIONS

6:! P$o,e#u$e "o$ #e,la$ing #i.i#en#&

61! Cal,ulation o" #i.i#en#&6'! Pa)%ent o" #i.i#en#& an# ot-e$ #i&t$i(ution&

63! De#u,tion& "$o% #i&t$i(ution& in $e&/e,t o" &u%& o0e# to t-e ,o%/an)

64! No inte$e&t on #i&t$i(ution&

6! Un,lai%e# #i&t$i(ution&

62! Non,a&- #i&t$i(ution&

66! +ai.e$ o" #i&t$i(ution&

CAPITALISATION OF PROFITS

68! Aut-o$it) to ,a/itali&e an# a//$o/$iation o" ,a/itali&e# &u%&

PART



MISCELLANEOUS PRO=ISIONS

COMMUNICATIONS

69! Mean& o" ,o%%uni,ation to (e u&e#

8:! Failu$e to noti") ,onta,t #etail&

ADMINISTRATI=E ARRAN5EMENTS

81! Co%/an) &eal&

8'! De&t$u,tion o" #o,u%ent&

83! No $ig-t to in&/e,t a,,ount& an# ot-e$ $e,o$#&

84! P$o.i&ion "o$ e%/lo)ee& on ,e&&ation o" (u&ine&&

DIRECTORS* INDEMNIT AND INSURANCE

8! In#e%nit)

82! In&u$an,e

PART 1

INTERPRETATION AND LIMITATION OF LIABILIT

Defined terms

1. In t-e a$ti,le& unle&& t-e ,onte?t $e<ui$e& ot-e$0i&e

alte$nate o$ alte$nate #i$e,to$ -a& t-e %eaning gi.en in a$ti,le '

a//ointo$ -a& t-e %eaning gi.en in a$ti,le 'a$ti,le& %ean& t-e ,o%/an)*& a$ti,le& o" a&&o,iation

(an7$u/t,) in,lu#e& in#i.i#ual in&ol.en,) /$o,ee#ing& in a @u$i&#i,tion ot-e$

t-an Englan# an# +ale& o$ No$t-e$n I$elan# 0-i,- -a.e an e""e,t &i%ila$ to t-at o"

(an7$u/t,)

,all -a& t-e %eaning gi.en in a$ti,le 4

,all noti,e -a& t-e %eaning gi.en in a$ti,le 4

,e$ti"i,ate %ean& a /a/e$ ,e$ti"i,ate ot-e$ t-an a &-a$e 0a$$antG e.i#en,ing a

/e$&on*& title to &/e,i"ie# &-a$e& o$ ot-e$ &e,u$itie&

,e$ti"i,ate# in $elation to a &-a$e %ean& t-at it i& not an un,e$ti"i,ate# &-a$e o$ a

&-a$e in $e&/e,t o" 0-i,- a &-a$e 0a$$ant -a& (een i&&ue# an# i& ,u$$ent

,-ai$%an -a& t-e %eaning gi.en in a$ti,le 1'

,-ai$%an o" t-e %eeting -a& t-e %eaning gi.en in a$ti,le 31

Co%/anie& A,t& %ean& t-e Co%/anie& A,t& a& #e"ine# in &e,tion ' o" t-e

Co%/anie& A,t '::2G in &o "a$ a& t-e) a//l) to t-e ,o%/an)

,o%/an)*& lien -a& t-e %eaning gi.en in a$ti,le '



#i$e,to$ %ean& a #i$e,to$ o" t-e ,o%/an) an# in,lu#e& an) /e$&on o,,u/)ing t-e

/o&ition o" #i$e,to$ () 0-ate.e$ na%e ,alle#

#i&t$i(ution $e,i/ient -a& t-e %eaning gi.en in a$ti,le 6'

#o,u%ent in,lu#e& unle&& ot-e$0i&e &/e,i"ie# an) #o,u%ent &ent o$ &u//lie# in

ele,t$oni, "o$%

ele,t$oni, "o$% -a& t-e %eaning gi.en in &e,tion 1128 o" t-e Co%/anie& A,t

'::2

"ull) /ai# in $elation to a &-a$e %ean& t-at t-e no%inal .alue an# an) /$e%iu%

to (e /ai# to t-e ,o%/an) in $e&/e,t o" t-at &-a$e -a.e (een /ai# to t-e ,o%/an)

-a$# ,o/) "o$% -a& t-e %eaning gi.en in &e,tion 1128 o" t-e Co%/anie& A,t

'::2

-ol#e$ in $elation to &-a$e& %ean& t-e /e$&on 0-o&e na%e i& ente$e# in t-e

$egi&te$ o" %e%(e$& a& t-e -ol#e$ o" t-e &-a$e& o$ in t-e ,a&e o" a &-a$e in $e&/e,t

o" 0-i,- a &-a$e 0a$$ant -a& (een i&&ue# an# not ,an,elle#G t-e /e$&on in

/o&&e&&ion o" t-at 0a$$ant

in&t$u%ent %ean& a #o,u%ent in -a$# ,o/) "o$%

lien en"o$,e%ent noti,e -a& t-e %eaning gi.en in a$ti,le 3

%e%(e$ -a& t-e %eaning gi.en in &e,tion 11' o" t-e Co%/anie& A,t '::2

o$#ina$) $e&olution -a& t-e %eaning gi.en in &e,tion '8' o" t-e Co%/anie& A,t

'::2

/ai# %ean& /ai# o$ ,$e#ite# a& /ai#

/a$ti,i/ate in $elation to a #i$e,to$&* %eeting -a& t-e %eaning gi.en in a$ti,le 9

/a$tl) /ai# in $elation to a &-a$e %ean& t-at /a$t o" t-at &-a$e*& no%inal .alue o$

an)

/$e%iu% at 0-i,- it 0a& i&&ue# -a& not (een /ai# to t-e ,o%/an)

/$o?) noti,e -a& t-e %eaning gi.en in a$ti,le 38

&e,u$itie& &eal -a& t-e %eaning gi.en in a$ti,le 46

&-a$e& %ean& &-a$e& in t-e ,o%/an)

&/e,ial $e&olution -a& t-e %eaning gi.en in &e,tion '83 o" t-e Co%/anie& A,t

'::2

&u(&i#ia$) -a& t-e %eaning gi.en in &e,tion 119 o" t-e Co%/anie& A,t '::2

t$an&%ittee %ean& a /e$&on entitle# to a &-a$e () $ea&on o" t-e #eat- o$

(an7$u/t,) o" a &-a$e-ol#e$ o$ ot-e$0i&e () o/e$ation o" la0

un,e$ti"i,ate# in $elation to a &-a$e %ean& t-at () .i$tue o" legi&lation ot-e$



t-an &e,tion 668 o" t-e Co%/anie& A,t '::2G /e$%itting title to &-a$e& to (e

e.i#en,e# an# t$an&"e$$e# 0it-out a ,e$ti"i,atee title to t-at &-a$e i& e.i#en,e# an#

%a) (e t$an&"e$$e# 0it-out a ,e$ti"i,ate an#

0$iting %ean& t-e $e/$e&entation o$ $e/$o#u,tion o" 0o$#& &)%(ol& o$ ot-e$

in"o$%ation in a .i&i(le "o$% () an) %et-o# o$ ,o%(ination o" %et-o#& 0-et-e$

&ent o$ &u//lie# in ele,t$oni, "o$% o$ ot-e$0i&e!

Unle&& t-e ,onte?t ot-e$0i&e $e<ui$e& ot-e$ 0o$#& o$ e?/$e&&ion& ,ontaine# in t-e&e

a$ti,le& (ea$ t-e &a%e %eaning a& in t-e Co%/anie& A,t '::2 a& in "o$,e on t-e #ate

0-en t-e&e a$ti,le& (e,o%e (in#ing on t-e ,o%/an)!

Liability of members

2. T-e lia(ilit) o" t-e %e%(e$& i& li%ite# to t-e a%ount i" an) un/ai# on t-e &-a$e&

-el# () t-e%!

PART '

DIRECTORS

DIRECTORS* PO+ERS AND RESPONSIBILITIES

Directors’ general authority

3. Su(@e,t to t-e a$ti,le& t-e #i$e,to$& a$e $e&/on&i(le "o$ t-e %anage%ent o" t-e

,o%/an)*& (u&ine&& "o$ 0-i,- /u$/o&e t-e) %a) e?e$,i&e all t-e /o0e$& o" t-e

,o%/an)!

Members’ reserve power

4. 1G T-e %e%(e$& %a) () &/e,ial $e&olution #i$e,t t-e #i$e,to$& to ta7e o$ $e"$ain

"$o% ta7ing &/e,i"ie# a,tion!

'G No &u,- &/e,ial $e&olution in.ali#ate& an)t-ing 0-i,- t-e #i$e,to$& -a.e #one

(e"o$e t-e /a&&ing o" t-e $e&olution!

Directors may delegate

. 1G Su(@e,t to t-e a$ti,le& t-e #i$e,to$& %a) #elegate an) o" t-e /o0e$& 0-i,- a$e

,on"e$$e# on t-e% un#e$ t-e a$ti,le&

aG to &u,- /e$&on o$ ,o%%ittee

(G () &u,- %ean& in,lu#ing () /o0e$ o" atto$ne)G

,G to &u,- an e?tent

#G in $elation to &u,- %atte$& o$ te$$ito$ie& an#

eG on &u,- te$%& an# ,on#ition&

a& t-e) t-in7 "it!

'G I" t-e #i$e,to$& &o &/e,i") an) &u,- #elegation %a) aut-o$i&e "u$t-e$ #elegation o"

t-e

#i$e,to$&* /o0e$& () an) /e$&on to 0-o% t-e) a$e #elegate#!



3G T-e #i$e,to$& %a) $e.o7e an) #elegation in 0-ole o$ /a$t o$ alte$ it& te$%& an#

,on#ition&!

!ommittees

". 1G Co%%ittee& to 0-i,- t-e #i$e,to$& #elegate an) o" t-ei$ /o0e$& %u&t "ollo0 /$o,e#u$e& 0-i,- a$e (a&e# a& "a$ a& t-e) a$e a//li,a(le on t-o&e /$o.i&ion& o" t-e

a$ti,le& 0-i,- go.e$n t-e ta7ing o" #e,i&ion& () #i$e,to$&!

'G T-e #i$e,to$& %a) %a7e $ule& o" /$o,e#u$e "o$ all o$ an) ,o%%ittee& 0-i,-

/$e.ail o.e$ $ule& #e$i.e# "$o% t-e a$ti,le& i" t-e) a$e not ,on&i&tent 0it- t-e%!

DECISIONMAIN5 B DIRECTORS

Directors to ta#e decisions collectively

$. De,i&ion& o" t-e #i$e,to$& %a) (e ta7en

aG at a #i$e,to$&* %eeting o$ (G in t-e "o$% o" a #i$e,to$&* 0$itten $e&olution!

!alling a directors’ meeting

%. 1G An) #i$e,to$ %a) ,all a #i$e,to$&* %eeting!

'G T-e ,o%/an) &e,$eta$) %u&t ,all a #i$e,to$&* %eeting i" a #i$e,to$ &o $e<ue&t&!

3G A #i$e,to$&* %eeting i& ,alle# () gi.ing noti,e o" t-e %eeting to t-e #i$e,to$&!

4G Noti,e o" an) #i$e,to$&* %eeting %u&t in#i,ate

aG it& /$o/o&e# #ate an# ti%e

(G 0-e$e it i& to ta7e /la,e an#

,G i" it i& anti,i/ate# t-at #i$e,to$& /a$ti,i/ating in t-e %eeting 0ill not (e in t-e

&a%e /la,e -o0 it i& /$o/o&e# t-at t-e) &-oul# ,o%%uni,ate 0it- ea,- ot-e$

#u$ing t-e %eeting!

G Noti,e o" a #i$e,to$&* %eeting %u&t (e gi.en to ea,- #i$e,to$ (ut nee# not (e in

0$iting!

2G Noti,e o" a #i$e,to$&* %eeting nee# not (e gi.en to #i$e,to$& 0-o 0ai.e t-ei$

entitle%ent to noti,e o" t-at %eeting () gi.ing noti,e to t-at e""e,t to t-e ,o%/an)

not %o$e t-an 6 #a)& a"te$ t-e #ate on 0-i,- t-e %eeting i& -el#! +-e$e &u,- noti,e i&

gi.en a"te$ t-e %eeting -a& (een -el# t-at #oe& not a""e,t t-e .ali#it) o" t-e %eeting

o$ o" an) (u&ine&& ,on#u,te# at it!

&articipation in directors’ meetings

'. 1G Su(@e,t to t-e a$ti,le& #i$e,to$& /a$ti,i/ate in a #i$e,to$&* %eeting o$ /a$t o" a

#i$e,to$&* %eeting 0-en

aG t-e %eeting -a& (een ,alle# an# ta7e& /la,e in a,,o$#an,e 0it- t-e a$ti,le&

an#

(G t-e) ,an ea,- ,o%%uni,ate to t-e ot-e$& an) in"o$%ation o$ o/inion& t-e)

-a.e on an) /a$ti,ula$ ite% o" t-e (u&ine&& o" t-e %eeting!

'G In #ete$%ining 0-et-e$ #i$e,to$& a$e /a$ti,i/ating in a #i$e,to$&* %eeting it i&

i$$ele.ant 0-e$e an) #i$e,to$ i& o$ -o0 t-e) ,o%%uni,ate 0it- ea,- ot-e$!

3G I" all t-e #i$e,to$& /a$ti,i/ating in a %eeting a$e not in t-e &a%e /la,e t-e) %a)#e,i#e t-at t-e %eeting i& to (e t$eate# a& ta7ing /la,e 0-e$e.e$ an) o" t-e% i&!



(uorum for directors’ meetings

1). 1G At a #i$e,to$&* %eeting unle&& a <uo$u% i& /a$ti,i/ating no /$o/o&al i& to (e

.ote# on e?,e/t a /$o/o&al to ,all anot-e$ %eeting!

'G T-e <uo$u% "o$ #i$e,to$&* %eeting& %a) (e "i?e# "$o% ti%e to ti%e () a #e,i&iono" t-e #i$e,to$& (ut it %u&t ne.e$ (e le&& t-an t0o an# unle&& ot-e$0i&e "i?e# it i&

t0o!

Meetings where total number of directors less than *uorum

11. 1G T-i& a$ti,le a//lie& 0-e$e t-e total nu%(e$ o" #i$e,to$& "o$ t-e ti%e (eing i&

le&& t-an t-e <uo$u% "o$ #i$e,to$&* %eeting&!

'G I" t-e$e i& onl) one #i$e,to$ t-at #i$e,to$ %a) a//oint &u""i,ient #i$e,to$& to %a7e

u/ a <uo$u% o$ ,all a gene$al %eeting to #o &o!

3G I" t-e$e i& %o$e t-an one #i$e,to$

aG a #i$e,to$&* %eeting %a) ta7e /la,e i" it i& ,alle# in a,,o$#an,e 0it- t-ea$ti,le& an# at lea&t t0o #i$e,to$& /a$ti,i/ate in it 0it- a .ie0 to a//ointing

&u""i,ient #i$e,to$& to %a7e u/ a <uo$u% o$ ,alling a gene$al %eeting to #o &o

an#

(G i" a #i$e,to$&* %eeting i& ,alle# (ut onl) one #i$e,to$ atten#& at t-e a//ointe#

#ate an# ti%e to /a$ti,i/ate in it t-at #i$e,to$ %a) a//oint &u""i,ient #i$e,to$& to

%a7e u/ a <uo$u% o$ ,all a gene$al %eeting to #o &o!

!hairing directors’ meetings

12. 1G T-e #i$e,to$& %a) a//oint a #i$e,to$ to ,-ai$ t-ei$ %eeting&!

'G T-e /e$&on &o a//ointe# "o$ t-e ti%e (eing i& 7no0n a& t-e ,-ai$%an!

3G T-e #i$e,to$& %a) a//oint ot-e$ #i$e,to$& a& #e/ut) o$ a&&i&tant ,-ai$%en to ,-ai$

#i$e,to$&* %eeting& in t-e ,-ai$%an*& a(&en,e!

4G T-e #i$e,to$& %a) te$%inate t-e a//oint%ent o" t-e ,-ai$%an #e/ut) o$ a&&i&tant

,-ai$%an at an) ti%e!

G I" neit-e$ t-e ,-ai$%an no$ an) #i$e,to$ a//ointe# gene$all) to ,-ai$ #i$e,to$&*

%eeting& in t-e ,-ai$%an*& a(&en,e i& /a$ti,i/ating in a %eeting 0it-in ten %inute& o"

t-e ti%e at 0-i,- it 0a& to &ta$t t-e /a$ti,i/ating #i$e,to$& %u&t a//oint one o"

t-e%&el.e& to ,-ai$ it!

+oting at directors’ meetings, general rules

13. 1G Su(@e,t to t-e a$ti,le& a #e,i&ion i& ta7en at a #i$e,to$&* %eeting () a

%a@o$it) o" t-e .ote& o" t-e /a$ti,i/ating #i$e,to$&!

'G Su(@e,t to t-e a$ti,le& ea,- #i$e,to$ /a$ti,i/ating in a #i$e,to$&* %eeting -a& one

.ote!

3G Su(@e,t to t-e a$ti,le& i" a #i$e,to$ -a& an inte$e&t in an a,tual o$ /$o/o&e#

t$an&a,tion o$ a$$ange%ent 0it- t-e ,o%/an)

aG t-at #i$e,to$ an# t-at #i$e,to$*& alte$nate %a) not .ote on an) /$o/o&al

$elating to it (ut

(G t-i& #oe& not /$e,lu#e t-e alte$nate "$o% .oting in $elation to t-at t$an&a,tion

o$ a$$ange%ent on (e-al" o" anot-e$ a//ointo$ 0-o #oe& not -a.e &u,- an inte$e&t!



!hairman’s casting vote at directors’ meetings

14. 1G I" t-e nu%(e$& o" .ote& "o$ an# again&t a /$o/o&al a$e e<ual t-e ,-ai$%an o$

ot-e$ #i$e,to$ ,-ai$ing t-e %eeting -a& a ,a&ting .ote!

'G But t-i& #oe& not a//l) i" in a,,o$#an,e 0it- t-e a$ti,le& t-e ,-ai$%an o$ ot-e$#i$e,to$ i& not to (e ,ounte# a& /a$ti,i/ating in t-e #e,i&ion%a7ing /$o,e&& "o$

<uo$u% o$ .oting /u$/o&e&!

-lternates voting at directors’ meetings

1. A #i$e,to$ 0-o i& al&o an alte$nate #i$e,to$ -a& an a##itional .ote on (e-al" o"

ea,-

a//ointo$ 0-o i&

aG not /a$ti,i/ating in a #i$e,to$&* %eeting an#

(G 0oul# -a.e (een entitle# to .ote i" t-e) 0e$e /a$ti,i/ating in it!

!onflicts of interest

1". 1G I" a #i$e,to$&* %eeting o$ /a$t o" a #i$e,to$&* %eeting i& ,on,e$ne# 0it- an

a,tual o$ /$o/o&e# t$an&a,tion o$ a$$ange%ent 0it- t-e ,o%/an) in 0-i,- a #i$e,to$ i&

inte$e&te# t-at #i$e,to$ i& not to (e ,ounte# a& /a$ti,i/ating in t-at %eeting o$ /a$t o"

a %eeting "o$ <uo$u% o$ .oting /u$/o&e&!

'G But i" /a$ag$a/- 3G a//lie& a #i$e,to$ 0-o i& inte$e&te# in an a,tual o$ /$o/o&e#

t$an&a,tion o$ a$$ange%ent 0it- t-e ,o%/an) i& to (e ,ounte# a& /a$ti,i/ating in a

#e,i&ion at a #i$e,to$&* %eeting o$ /a$t o" a #i$e,to$&* %eeting $elating to it "o$

<uo$u% an# .oting /u$/o&e&!

3G T-i& /a$ag$a/- a//lie& 0-en

aG t-e ,o%/an) () o$#ina$) $e&olution #i&a//lie& t-e /$o.i&ion o" t-e a$ti,le&

0-i,- 0oul# ot-e$0i&e /$e.ent a #i$e,to$ "$o% (eing ,ounte# a& /a$ti,i/ating in

o$ .oting at a #i$e,to$&* %eeting

(G t-e #i$e,to$*& inte$e&t ,annot $ea&ona(l) (e $ega$#e# a& li7el) to gi.e $i&e to a

,on"li,t o" inte$e&t o$

,G t-e #i$e,to$*& ,on"li,t o" inte$e&t a$i&e& "$o% a /e$%itte# ,au&e!

4G Fo$ t-e /u$/o&e& o" t-i& a$ti,le t-e "ollo0ing a$e /e$%itte# ,au&e&

aG a gua$antee gi.en o$ to (e gi.en () o$ to a #i$e,to$ in $e&/e,t o" an o(ligation

in,u$$e# () o$ on (e-al" o" t-e ,o%/an) o$ an) o" it& &u(&i#ia$ie&

(G &u(&,$i/tion o$ an ag$ee%ent to &u(&,$i(e "o$ &-a$e& o$ ot-e$ &e,u$itie& o" t-e,o%/an) o$ an) o" it& &u(&i#ia$ie& o$ to un#e$0$ite &u(un#e$0$ite o$ gua$antee

&u(&,$i/tion "o$ an) &u,- &-a$e& o$ &e,u$itie& an#

,G a$$ange%ent& /u$&uant to 0-i,- (ene"it& a$e %a#e a.aila(le to e%/lo)ee& an#

#i$e,to$& o$ "o$%e$ e%/lo)ee& an# #i$e,to$& o" t-e ,o%/an) o$ an) o" it&

&u(&i#ia$ie& 0-i,- #o not /$o.i#e &/e,ial (ene"it& "o$ #i$e,to$& o$ "o$%e$

#i$e,to$&!

G Su(@e,t to /a$ag$a/- 2G i" a <ue&tion a$i&e& at a %eeting o" #i$e,to$& o$ o" a

,o%%ittee o" #i$e,to$& a& to t-e $ig-t o" a #i$e,to$ to /a$ti,i/ate in t-e %eeting o$ /a$t

o" t-e %eetingG "o$ .oting o$ <uo$u% /u$/o&e& t-e <ue&tion %a) (e"o$e t-e

,on,lu&ion o" t-e %eeting (e $e"e$$e# to t-e ,-ai$%an 0-o&e $uling in $elation to an)

#i$e,to$ ot-e$ t-an t-e ,-ai$%an i& to (e "inal an# ,on,lu&i.e!2G I" an) <ue&tion a& to t-e $ig-t to /a$ti,i/ate in t-e %eeting o$ /a$t o" t-e %eetingG



&-oul# a$i&e in $e&/e,t o" t-e ,-ai$%an t-e <ue&tion i& to (e #e,i#e# () a #e,i&ion o"

t-e #i$e,to$& at t-at %eeting "o$ 0-i,- /u$/o&e t-e ,-ai$%an i& not to (e ,ounte# a&

/a$ti,i/ating in t-e %eeting o$ t-at /a$t o" t-e %eetingG "o$ .oting o$ <uo$u%

/u$/o&e&!

&roposing directors’ written resolutions

1$. 1G An) #i$e,to$ %a) /$o/o&e a #i$e,to$&* 0$itten $e&olution!

'G T-e ,o%/an) &e,$eta$) %u&t /$o/o&e a #i$e,to$&* 0$itten $e&olution i" a #i$e,to$ &o

$e<ue&t&!

3G A #i$e,to$&* 0$itten $e&olution i& /$o/o&e# () gi.ing noti,e o" t-e /$o/o&e#

$e&olution to t-e #i$e,to$&!

4G Noti,e o" a /$o/o&e# #i$e,to$&* 0$itten $e&olution %u&t in#i,ate

aG t-e /$o/o&e# $e&olution an#

(G t-e ti%e () 0-i,- it i& /$o/o&e# t-at t-e #i$e,to$& &-oul# a#o/t it!

G Noti,e o" a /$o/o&e# #i$e,to$&* 0$itten $e&olution %u&t (e gi.en in 0$iting to ea,-

#i$e,to$!2G An) #e,i&ion 0-i,- a /e$&on gi.ing noti,e o" a /$o/o&e# #i$e,to$&* 0$itten

$e&olution ta7e& $ega$#ing t-e /$o,e&& o" a#o/ting t-at $e&olution %u&t (e ta7en

$ea&ona(l) in goo# "ait-!

-doption of directors’ written resolutions

1%. 1G A /$o/o&e# #i$e,to$&* 0$itten $e&olution i& a#o/te# 0-en all t-e #i$e,to$&

0-o 0oul# -a.e (een entitle# to .ote on t-e $e&olution at a #i$e,to$&* %eeting -a.e

&igne# one o$ %o$e ,o/ie& o" it /$o.i#e# t-at t-o&e #i$e,to$& 0oul# -a.e "o$%e# a

<uo$u% at &u,- a %eeting!

'G It i& i%%ate$ial 0-et-e$ an) #i$e,to$ &ign& t-e $e&olution (e"o$e o$ a"te$ t-e ti%e

() 0-i,- t-e noti,e /$o/o&e# t-at it &-oul# (e a#o/te#!

3G On,e a #i$e,to$&* 0$itten $e&olution -a& (een a#o/te# it %u&t (e t$eate# a& i" it

-a# (een a #e,i&ion ta7en at a #i$e,to$&* %eeting in a,,o$#an,e 0it- t-e a$ti,le&!

4G T-e ,o%/an) &e,$eta$) %u&t en&u$e t-at t-e ,o%/an) 7ee/& a $e,o$# in 0$iting

o" all

#i$e,to$&* 0$itten $e&olution& "o$ at lea&t ten )ea$& "$o% t-e #ate o" t-ei$ a#o/tion!

Directors’ discretion to ma#e further rules

1'. Su(@e,t to t-e a$ti,le& t-e #i$e,to$& %a) %a7e an) $ule 0-i,- t-e) t-in7 "it a(out

-o0 t-e) ta7e #e,i&ion& an# a(out -o0 &u,- $ule& a$e to (e $e,o$#e# o$,o%%uni,ate# to #i$e,to$&!

APPOINTMENT OF DIRECTORS

Methods of appointing directors

2). An) /e$&on 0-o i& 0illing to a,t a& a #i$e,to$ an# i& /e$%itte# () la0 to #o &o

%a) (e a//ointe# to (e a #i$e,to$

aG () o$#ina$) $e&olution o$

(G () a #e,i&ion o" t-e #i$e,to$&!

etirement of directors by rotation



21. 1G At t-e "i$&t annual gene$al %eeting all t-e #i$e,to$& %u&t $eti$e "$o% o""i,e!

'G At e.e$) &u(&e<uent annual gene$al %eeting an) #i$e,to$&

aG 0-o -a.e (een a//ointe# () t-e #i$e,to$& &in,e t-e la&t annual gene$al

%eeting o$

(G 0-o 0e$e not a//ointe# o$ $ea//ointe# at one o" t-e /$e,e#ing t0o annualgene$al %eeting& %u&t $eti$e "$o% o""i,e an# %a) o""e$ t-e%&el.e& "o$

$ea//oint%ent () t-e %e%(e$&!

/ermination of director’s appointment

22. A /e$&on ,ea&e& to (e a #i$e,to$ a& &oon a&

aG t-at /e$&on ,ea&e& to (e a #i$e,to$ () .i$tue o" an) /$o.i&ion o" t-e Co%/anie&

A,t '::2 o$ i& /$o-i(ite# "$o% (eing a #i$e,to$ () la0

(G a (an7$u/t,) o$#e$ i& %a#e again&t t-at /e$&on

,G a ,o%/o&ition i& %a#e 0it- t-at /e$&on*& ,$e#ito$& gene$all) in &ati&"a,tion o"

t-at /e$&on*& #e(t&

#G a $egi&te$e# %e#i,al /$a,titione$ 0-o i& t$eating t-at /e$&on gi.e& a 0$itten

o/inion to t-e ,o%/an) &tating t-at t-at /e$&on -a& (e,o%e /-)&i,all) o$

%entall) in,a/a(le o" a,ting a& a #i$e,to$ an# %a) $e%ain &o "o$ %o$e t-an t-$ee

%ont-&

eG () $ea&on o" t-at /e$&on*& %ental -ealt- a ,ou$t %a7e& an o$#e$ 0-i,- 0-oll)

o$ /a$tl) /$e.ent& t-at /e$&on "$o% /e$&onall) e?e$,i&ing an) /o0e$& o$ $ig-t&

0-i,- t-at /e$&on 0oul# ot-e$0i&e -a.e

"G noti"i,ation i& $e,ei.e# () t-e ,o%/an) "$o% t-e #i$e,to$ t-at t-e #i$e,to$ i&

$e&igning "$o% o""i,e a& #i$e,to$ an# &u,- $e&ignation -a& ta7en e""e,t in

a,,o$#an,e 0it- it& te$%&!

Directors’ remuneration

23. 1G Di$e,to$& %a) un#e$ta7e an) &e$.i,e& "o$ t-e ,o%/an) t-at t-e #i$e,to$&

#e,i#e!

'G Di$e,to$& a$e entitle# to &u,- $e%une$ation a& t-e #i$e,to$& #ete$%ine

aG "o$ t-ei$ &e$.i,e& to t-e ,o%/an) a& #i$e,to$& an#

(G "o$ an) ot-e$ &e$.i,e 0-i,- t-e) un#e$ta7e "o$ t-e ,o%/an)!

3G Su(@e,t to t-e a$ti,le& a #i$e,to$*& $e%une$ation %a)

aG ta7e an) "o$% an#(G in,lu#e an) a$$ange%ent& in ,onne,tion 0it- t-e /a)%ent o" a /en&ion

allo0an,e o$ g$atuit) o$ an) #eat- &i,7ne&& o$ #i&a(ilit) (ene"it& to o$ in $e&/e,t

o" t-at #i$e,to$!

4G Unle&& t-e #i$e,to$& #e,i#e ot-e$0i&e #i$e,to$&* $e%une$ation a,,$ue& "$o% #a) to

#a)!

G Unle&& t-e #i$e,to$& #e,i#e ot-e$0i&e #i$e,to$& a$e not a,,ounta(le to t-e

,o%/an) "o$ an) $e%une$ation 0-i,- t-e) $e,ei.e a& #i$e,to$& o$ ot-e$ o""i,e$& o$

e%/lo)ee& o" t-e ,o%/an)*& &u(&i#ia$ie& o$ o" an) ot-e$ (o#) ,o$/o$ate in 0-i,- t-e

,o%/an) i& inte$e&te#!

Directors’ e0penses



24. T-e ,o%/an) %a) /a) an) $ea&ona(le e?/en&e& 0-i,- t-e #i$e,to$& /$o/e$l) in,u$

in

,onne,tion 0it- t-ei$ atten#an,e at

aG %eeting& o" #i$e,to$& o$ ,o%%ittee& o" #i$e,to$&

(G gene$al %eeting& o$

,G &e/a$ate %eeting& o" t-e -ol#e$& o" an) ,la&& o" &-a$e& o$ o" #e(entu$e& o" t-e,o%/an) o$ ot-e$0i&e in ,onne,tion 0it- t-e e?e$,i&e o" t-ei$ /o0e$& an# t-e

#i&,-a$ge o" t-ei$ $e&/on&i(ilitie& in $elation to t-e ,o%/an)!

ALTERNATE DIRECTORS

-ppointment and removal of alternates

2. 1G An) #i$e,to$ t-e a//ointo$G %a) a//oint a& an alte$nate an) ot-e$

#i$e,to$ o$ an) ot-e$ /e$&on a//$o.e# () $e&olution o" t-e #i$e,to$& to

aG e?e$,i&e t-at #i$e,to$*& /o0e$& an#

(G ,a$$) out t-at #i$e,to$*& $e&/on&i(ilitie&in $elation to t-e ta7ing o" #e,i&ion& () t-e #i$e,to$& in t-e a(&en,e o" t-e alte$nate*&

a//ointo$!

'G An) a//oint%ent o$ $e%o.al o" an alte$nate %u&t (e e""e,te# () noti,e in 0$iting

to t-e ,o%/an) &igne# () t-e a//ointo$ o$ in an) ot-e$ %anne$ a//$o.e# () t-e

#i$e,to$&!

3G T-e noti,e %u&t

aG i#enti") t-e /$o/o&e# alte$nate an#

(G in t-e ,a&e o" a noti,e o" a//oint%ent ,ontain a &tate%ent &igne# () t-e

/$o/o&e#

alte$nate t-at t-e /$o/o&e# alte$nate i& 0illing to a,t a& t-e alte$nate o" t-e

#i$e,to$ gi.ing t-e noti,e!

ights and responsibilities of alternate directors

2". 1G An alte$nate #i$e,to$ -a& t-e &a%e $ig-t& in $elation to an) #i$e,to$&*

%eeting o$

#i$e,to$&* 0$itten $e&olution a& t-e alte$nate*& a//ointo$!

'G E?,e/t a& t-e a$ti,le& &/e,i") ot-e$0i&e alte$nate #i$e,to$&

aG a$e #ee%e# "o$ all /u$/o&e& to (e #i$e,to$&

(G a$e lia(le "o$ t-ei$ o0n a,t& an# o%i&&ion&

,G a$e &u(@e,t to t-e &a%e $e&t$i,tion& a& t-ei$ a//ointo$& an##G a$e not #ee%e# to (e agent& o" o$ "o$ t-ei$ a//ointo$&!

3G A /e$&on 0-o i& an alte$nate #i$e,to$ (ut not a #i$e,to$

aG %a) (e ,ounte# a& /a$ti,i/ating "o$ t-e /u$/o&e& o" #ete$%ining 0-et-e$ a

<uo$u% i& /a$ti,i/ating (ut onl) i" t-at /e$&on*& a//ointo$ i& not /a$ti,i/atingG

an#

(G %a) &ign a 0$itten $e&olution (ut onl) i" it i& not &igne# o$ to (e &igne# ()

t-at /e$&on*& a//ointo$G!

No alte$nate %a) (e ,ounte# a& %o$e t-an one #i$e,to$ "o$ &u,- /u$/o&e&!

4G An alte$nate #i$e,to$ i& not entitle# to $e,ei.e an) $e%une$ation "$o% t-e ,o%/an)

"o$

&e$.ing a& an alte$nate #i$e,to$ e?,e/t &u,- /a$t o" t-e alte$nate*& a//ointo$*&$e%une$ation a& t-e a//ointo$ %a) #i$e,t () noti,e in 0$iting %a#e to t-e ,o%/an)!



/ermination of alternate directorship

2$. An alte$nate #i$e,to$*& a//oint%ent a& an alte$nate te$%inate&

aG 0-en t-e alte$nate*& a//ointo$ $e.o7e& t-e a//oint%ent () noti,e to t-e

,o%/an) in 0$iting &/e,i")ing 0-en it i& to te$%inate(G on t-e o,,u$$en,e in $elation to t-e alte$nate o" an) e.ent 0-i,- i" it o,,u$$e#

in $elation to t-e alte$nate*& a//ointo$ 0oul# $e&ult in t-e te$%ination o" t-e

a//ointo$*& a//oint%ent a& a #i$e,to$

,G on t-e #eat- o" t-e alte$nate*& a//ointo$ o$

#G 0-en t-e alte$nate*& a//ointo$*& a//oint%ent a& a #i$e,to$ te$%inate& e?,e/t

t-at an alte$nate*& a//oint%ent a& an alte$nate #oe& not te$%inate 0-en t-e

a//ointo$ $eti$e& () $otation at a gene$al %eeting an# i& t-en $ea//ointe# a& a

#i$e,to$ at t-e &a%e gene$al %eeting!

PART 3

DECISIONMAIN5 B MEMBERS

OR5ANISATION OF 5ENERAL MEETIN5S

Members can call general meeting if not enough directors

2%. I"

aG t-e ,o%/an) -a& "e0e$ t-an t0o #i$e,to$& an#

(G t-e #i$e,to$ i" an)G i& una(le o$ un0illing to a//oint &u""i,ient #i$e,to$& to

%a7e u/ a

<uo$u% o$ to ,all a gene$al %eeting to #o &o

t-en t0o o$ %o$e %e%(e$& %a) ,all a gene$al %eeting o$ in&t$u,t t-e ,o%/an)

&e,$eta$) to #o &oG "o$ t-e /u$/o&e o" a//ointing one o$ %o$e #i$e,to$&!

-ttendance and spea#ing at general meetings

2'. 1G A /e$&on i& a(le to e?e$,i&e t-e $ig-t to &/ea7 at a gene$al %eeting 0-en t-at /e$&on i& in a /o&ition to ,o%%uni,ate to all t-o&e atten#ing t-e %eeting #u$ing t-e

%eeting an) in"o$%ation o$ o/inion& 0-i,- t-at /e$&on -a& on t-e (u&ine&& o" t-e

%eeting!

'G A /e$&on i& a(le to e?e$,i&e t-e $ig-t to .ote at a gene$al %eeting 0-en

aG t-at /e$&on i& a(le to .ote #u$ing t-e %eeting on $e&olution& /ut to t-e .ote at

t-e %eeting an#

(G t-at /e$&on*& .ote ,an (e ta7en into a,,ount in #ete$%ining 0-et-e$ o$ not

&u,-

$e&olution& a$e /a&&e# at t-e &a%e ti%e a& t-e .ote& o" all t-e ot-e$ /e$&on&

atten#ing t-e %eeting!

3G T-e #i$e,to$& %a) %a7e 0-ate.e$ a$$ange%ent& t-e) ,on&i#e$ a//$o/$iate toena(le t-o&e atten#ing a gene$al %eeting to e?e$,i&e t-ei$ $ig-t& to &/ea7 o$ .ote at it!



4G In #ete$%ining atten#an,e at a gene$al %eeting it i& i%%ate$ial 0-et-e$ an) t0o

o$ %o$e %e%(e$& atten#ing it a$e in t-e &a%e /la,e a& ea,- ot-e$!

G T0o o$ %o$e /e$&on& 0-o a$e not in t-e &a%e /la,e a& ea,- ot-e$ atten# a gene$al

%eeting i" t-ei$ ,i$,u%&tan,e& a$e &u,- t-at i" t-e) -a.e o$ 0e$e to -a.eG $ig-t& to

&/ea7 an# .ote at t-at %eeting t-e) a$e o$ 0oul# (eG a(le to e?e$,i&e t-e%!

(uorum for general meetings

3). No (u&ine&& ot-e$ t-an t-e a//oint%ent o" t-e ,-ai$%an o" t-e %eeting i& to (e

t$an&a,te# at a gene$al %eeting i" t-e /e$&on& atten#ing it #o not ,on&titute a <uo$u%!

!hairing general meetings

31. 1G I" t-e #i$e,to$& -a.e a//ointe# a ,-ai$%an t-e ,-ai$%an &-all ,-ai$ gene$al

%eeting& i" /$e&ent an# 0illing to #o &o!

'G I" t-e #i$e,to$& -a.e not a//ointe# a ,-ai$%an o$ i" t-e ,-ai$%an i& un0illing to

,-ai$ t-e %eeting o$ i& not /$e&ent 0it-in ten %inute& o" t-e ti%e at 0-i,- a %eeting0a& #ue to &ta$t

aG t-e #i$e,to$& /$e&ent o$

(G i" no #i$e,to$& a$e /$e&entG t-e %eeting

%u&t a//oint a #i$e,to$ o$ %e%(e$ to ,-ai$ t-e %eeting an# t-e a//oint%ent o" t-e

,-ai$%an o" t-e %eeting %u&t (e t-e "i$&t (u&ine&& o" t-e %eeting!

3G T-e /e$&on ,-ai$ing a %eeting in a,,o$#an,e 0it- t-i& a$ti,le i& $e"e$$e# to a& t-e

,-ai$%an o" t-e %eeting!

-ttendance and spea#ing by directors and nonmembers

32. 1G Di$e,to$& %a) atten# an# &/ea7 at gene$al %eeting& 0-et-e$ o$ not t-e) a$e

%e%(e$&!

'G T-e ,-ai$%an o" t-e %eeting %a) /e$%it ot-e$ /e$&on& 0-o a$e not

aG %e%(e$& o" t-e ,o%/an) o$

(G ot-e$0i&e entitle# to e?e$,i&e t-e $ig-t& o" %e%(e$& in $elation to gene$al

%eeting&

to atten# an# &/ea7 at a gene$al %eeting!

-dournment

33. 1G I" t-e /e$&on& atten#ing a gene$al %eeting 0it-in -al" an -ou$ o" t-e ti%e at0-i,- t-e %eeting 0a& #ue to &ta$t #o not ,on&titute a <uo$u% o$ i" #u$ing a %eeting

a <uo$u% ,ea&e& to (e /$e&ent t-e ,-ai$%an o" t-e %eeting %u&t a#@ou$n it!

'G T-e ,-ai$%an o" t-e %eeting %a) a#@ou$n a gene$al %eeting at 0-i,- a <uo$u% i&

/$e&ent i"

aG t-e %eeting ,on&ent& to an a#@ou$n%ent o$

(G it a//ea$& to t-e ,-ai$%an o" t-e %eeting t-at an a#@ou$n%ent i& ne,e&&a$) to

/$ote,t t-e &a"et) o" an) /e$&on atten#ing t-e %eeting o$ en&u$e t-at t-e (u&ine&&

o" t-e %eeting i& ,on#u,te# in an o$#e$l) %anne$!

3G T-e ,-ai$%an o" t-e %eeting %u&t a#@ou$n a gene$al %eeting i" #i$e,te# to #o &o

() t-e %eeting!

4G +-en a#@ou$ning a gene$al %eeting t-e ,-ai$%an o" t-e %eeting %u&t aG eit-e$ &/e,i") t-e ti%e an# /la,e to 0-i,- it i& a#@ou$ne# o$ &tate t-at it i& to



,ontinue at a ti%e an# /la,e to (e "i?e# () t-e #i$e,to$& an#

(G -a.e $ega$# to an) #i$e,tion& a& to t-e ti%e an# /la,e o" an) a#@ou$n%ent

0-i,- -a.e (een gi.en () t-e %eeting!

G I" t-e ,ontinuation o" an a#@ou$ne# %eeting i& to ta7e /la,e %o$e t-an 14 #a)&

a"te$ it 0a& a#@ou$ne# t-e ,o%/an) %u&t gi.e at lea&t 6 ,lea$ #a)&* noti,e o" it t-at

i& e?,lu#ing t-e #a) o" t-e a#@ou$ne# %eeting an# t-e #a) on 0-i,- t-e noti,e i&gi.enG

aG to t-e &a%e /e$&on& to 0-o% noti,e o" t-e ,o%/an)*& gene$al %eeting& i&

$e<ui$e# to (e gi.en an#

(G ,ontaining t-e &a%e in"o$%ation 0-i,- &u,- noti,e i& $e<ui$e# to ,ontain!

2G No (u&ine&& %a) (e t$an&a,te# at an a#@ou$ne# gene$al %eeting 0-i,- ,oul# not

/$o/e$l) -a.e (een t$an&a,te# at t-e %eeting i" t-e a#@ou$n%ent -a# not ta7en /la,e!

=OTIN5 AT 5ENERAL MEETIN5S

+oting, general

34. A $e&olution /ut to t-e .ote o" a gene$al %eeting %u&t (e #e,i#e# on a &-o0 o"

-an#& unle&& a /oll i& #ul) #e%an#e# in a,,o$#an,e 0it- t-e a$ti,le&!

rrors and disputes

3. 1G No o(@e,tion %a) (e $ai&e# to t-e <uali"i,ation o" an) /e$&on .oting at a

gene$al

%eeting e?,e/t at t-e %eeting o$ a#@ou$ne# %eeting at 0-i,- t-e .ote o(@e,te# to i&

ten#e$e# an# e.e$) .ote not #i&allo0e# at t-e %eeting i& .ali#!

'G An) &u,- o(@e,tion %u&t (e $e"e$$e# to t-e ,-ai$%an o" t-e %eeting 0-o&e

#e,i&ion i& "inal!

Demanding a poll

3". 1G A /oll on a $e&olution %a) (e #e%an#e#

aG in a#.an,e o" t-e gene$al %eeting 0-e$e it i& to (e /ut to t-e .ote o$

(G at a gene$al %eeting eit-e$ (e"o$e a &-o0 o" -an#& on t-at $e&olution o$

i%%e#iatel) a"te$ t-e $e&ult o" a &-o0 o" -an#& on t-at $e&olution i& #e,la$e#!

'G A /oll %a) (e #e%an#e# ()

aG t-e ,-ai$%an o" t-e %eeting(G t-e #i$e,to$&

,G t0o o$ %o$e /e$&on& -a.ing t-e $ig-t to .ote on t-e $e&olution o$

#G a /e$&on o$ /e$&on& $e/$e&enting not le&& t-an one tent- o" t-e total .oting

$ig-t& o" all t-e %e%(e$& -a.ing t-e $ig-t to .ote on t-e $e&olution!

3G A #e%an# "o$ a /oll %a) (e 0it-#$a0n i"

aG t-e /oll -a& not )et (een ta7en an#

(G t-e ,-ai$%an o" t-e %eeting ,on&ent& to t-e 0it-#$a0al!

&rocedure on a poll

3$. 1G Su(@e,t to t-e a$ti,le& /oll& at gene$al %eeting& %u&t (e ta7en 0-en 0-e$ean# in &u,- %anne$ a& t-e ,-ai$%an o" t-e %eeting #i$e,t&!



'G T-e ,-ai$%an o" t-e %eeting %a) a//oint &,$utinee$& 0-o nee# not (e %e%(e$&G

an# #e,i#e -o0 an# 0-en t-e $e&ult o" t-e /oll i& to (e #e,la$e#!

3G T-e $e&ult o" a /oll &-all (e t-e #e,i&ion o" t-e %eeting in $e&/e,t o" t-e $e&olution

on 0-i,- t-e /oll 0a& #e%an#e#!

4G A /oll on

aG t-e ele,tion o" t-e ,-ai$%an o" t-e %eeting o$ (G a <ue&tion o" a#@ou$n%ent

%u&t (e ta7en i%%e#iatel)!

G Ot-e$ /oll& %u&t (e ta7en 0it-in 3: #a)& o" t-ei$ (eing #e%an#e#!

2G A #e%an# "o$ a /oll #oe& not /$e.ent a gene$al %eeting "$o% ,ontinuing e?,e/t a&

$ega$#& t-e <ue&tion on 0-i,- t-e /oll 0a& #e%an#e#!

6G No noti,e nee# (e gi.en o" a /oll not ta7en i%%e#iatel) i" t-e ti%e an# /la,e at

0-i,- it i& to (e ta7en a$e announ,e# at t-e %eeting at 0-i,- it i& #e%an#e#!

8G In an) ot-e$ ,a&e at lea&t 6 #a)&* noti,e %u&t (e gi.en &/e,i")ing t-e ti%e an#

/la,e at 0-i,- t-e /oll i& to (e ta7en!

!ontent of pro0y notices

3%. 1G P$o?ie& %a) onl) .ali#l) (e a//ointe# () a noti,e in 0$iting a /$o?)

noti,eG

0-i,-

aG &tate& t-e na%e an# a##$e&& o" t-e %e%(e$ a//ointing t-e /$o?)

(G i#enti"ie& t-e /e$&on a//ointe# to (e t-at %e%(e$*& /$o?) an# t-e gene$al

%eeting in $elation to 0-i,- t-at /e$&on i& a//ointe#

,G i& &igne# () o$ on (e-al" o" t-e %e%(e$ a//ointing t-e /$o?) o$ i&

aut-enti,ate# in &u,-%anne$ a& t-e #i$e,to$& %a) #ete$%ine an#

#G i& #eli.e$e# to t-e ,o%/an) in a,,o$#an,e 0it- t-e a$ti,le& an# an)

in&t$u,tion& ,ontaine# in t-e noti,e o" t-e gene$al %eeting to 0-i,- t-e) $elate!

'G T-e ,o%/an) %a) $e<ui$e /$o?) noti,e& to (e #eli.e$e# in a /a$ti,ula$ "o$% an#

%a)

&/e,i") #i""e$ent "o$%& "o$ #i""e$ent /u$/o&e&!

3G P$o?) noti,e& %a) &/e,i") -o0 t-e /$o?) a//ointe# un#e$ t-e% i& to .ote o$ t-at

t-e /$o?) i& to a(&tain "$o% .otingG on one o$ %o$e $e&olution&!

4G Unle&& a /$o?) noti,e in#i,ate& ot-e$0i&e it %u&t (e t$eate# a&

aG allo0ing t-e /e$&on a//ointe# un#e$ it a& a /$o?) #i&,$etion a& to -o0 to .ote

on an)

an,illa$) o$ /$o,e#u$al $e&olution& /ut to t-e %eeting an#

(G a//ointing t-at /e$&on a& a /$o?) in $elation to an) a#@ou$n%ent o" t-e gene$al%eeting to 0-i,- it $elate& a& 0ell a& t-e %eeting it&el"!

Delivery of pro0y notices

3'. 1G An) noti,e o" a gene$al %eeting %u&t &/e,i") t-e a##$e&& o$ a##$e&&e&

/$o?)

noti"i,ation a##$e&&G at 0-i,- t-e ,o%/an) o$ it& agent& 0ill $e,ei.e /$o?) noti,e&

$elating to t-at %eeting o$ an) a#@ou$n%ent o" it #eli.e$e# in -a$# ,o/) o$ ele,t$oni,

"o$%!

'G A /e$&on 0-o i& entitle# to atten# &/ea7 o$ .ote eit-e$ on a &-o0 o" -an#& o$ on a

/ollG at a gene$al %eeting $e%ain& &o entitle# in $e&/e,t o" t-at %eeting o$ an)a#@ou$n%ent o" it e.en t-oug- a .ali# /$o?) noti,e -a& (een #eli.e$e# to t-e



,o%/an) () o$ on (e-al" o" t-at /e$&on!

3G Su(@e,t to /a$ag$a/-& 4G an# G a /$o?) noti,e %u&t (e #eli.e$e# to a /$o?)

noti"i,ation a##$e&& not le&& t-an 48 -ou$& (e"o$e t-e gene$al %eeting o$ a#@ou$ne#

%eeting to 0-i,- it $elate&!

4G In t-e ,a&e o" a /oll ta7en %o$e t-an 48 -ou$& a"te$ it i& #e%an#e# t-e noti,e %u&t

(e#eli.e$e# to a /$o?) noti"i,ation a##$e&& not le&& t-an '4 -ou$& (e"o$e t-e ti%e

a//ointe# "o$ t-e ta7ing o" t-e /oll!

G In t-e ,a&e o" a /oll not ta7en #u$ing t-e %eeting (ut ta7en not %o$e t-an 48 -ou$&

a"te$ it 0a& #e%an#e# t-e /$o?) noti,e %u&t (e #eli.e$e#

aG in a,,o$#an,e 0it- /a$ag$a/- 3G o$

(G at t-e %eeting at 0-i,- t-e /oll 0a& #e%an#e# to t-e ,-ai$%an &e,$eta$) o$

an) #i$e,to$!

2G An a//oint%ent un#e$ a /$o?) noti,e %a) (e $e.o7e# () #eli.e$ing a noti,e in

0$iting gi.en () o$ on (e-al" o" t-e /e$&on () 0-o% o$ on 0-o&e (e-al" t-e /$o?)

noti,e 0a& gi.en to a /$o?) noti"i,ation a##$e&&!

6G A noti,e $e.o7ing a /$o?) a//oint%ent onl) ta7e& e""e,t i" it i& #eli.e$e# (e"o$e aG t-e &ta$t o" t-e %eeting o$ a#@ou$ne# %eeting to 0-i,- it $elate& o$

(G in t-e ,a&e o" a /oll not ta7en on t-e &a%e #a) a& t-e %eeting o$ a#@ou$ne#

%eetingG t-e ti%e a//ointe# "o$ ta7ing t-e /oll to 0-i,- it $elate&!

8G I" a /$o?) noti,e i& not &igne# () t-e /e$&on a//ointing t-e /$o?) it %u&t (e

a,,o%/anie# () 0$itten e.i#en,e o" t-e aut-o$it) o" t-e /e$&on 0-o e?e,ute# it to

e?e,ute it on t-e a//ointo$*& (e-al"!

-mendments to resolutions

4). 1G An o$#ina$) $e&olution to (e /$o/o&e# at a gene$al %eeting %a) (e a%en#e#

()

o$#ina$) $e&olution i"

aG noti,e o" t-e /$o/o&e# a%en#%ent i& gi.en to t-e ,o%/an) &e,$eta$) in

0$iting () a /e$&on entitle# to .ote at t-e gene$al %eeting at 0-i,- it i& to (e

/$o/o&e# not le&& t-an -ou$& (e"o$e t-e %eeting i& to ta7e /la,e o$ &u,- late$

ti%e a& t-e ,-ai$%an o" t-e %eeting %a) #ete$%ineG an#

(G t-e /$o/o&e# a%en#%ent #oe& not in t-e $ea&ona(le o/inion o" t-e ,-ai$%an

o" t-e %eeting %ate$iall) alte$ t-e &,o/e o" t-e $e&olution!

'G A &/e,ial $e&olution to (e /$o/o&e# at a gene$al %eeting %a) (e a%en#e# ()

o$#ina$)

$e&olution i" aG t-e ,-ai$%an o" t-e %eeting /$o/o&e& t-e a%en#%ent at t-e gene$al %eeting

at 0-i,- t-e $e&olution i& to (e /$o/o&e# an#

(G t-e a%en#%ent #oe& not go (e)on# 0-at i& ne,e&&a$) to ,o$$e,t a

g$a%%ati,al o$ ot-e$ non&u(&tanti.e e$$o$ in t-e $e&olution!

3G I" t-e ,-ai$%an o" t-e %eeting a,ting in goo# "ait- 0$ongl) #e,i#e& t-at an

a%en#%ent to a $e&olution i& out o" o$#e$ t-e ,-ai$%an*& e$$o$ #oe& not in.ali#ate t-e

.ote on t-at $e&olution!

RESTRICTIONS ON MEMBERS* RI5HTS

o voting of shares on which money owed to company



41. No .oting $ig-t& atta,-e# to a &-a$e %a) (e e?e$,i&e# at an) gene$al %eeting at

an)

a#@ou$n%ent o" it o$ on an) /oll ,alle# at o$ in $elation to it unle&& all a%ount&

/a)a(le to t-e ,o%/an) in $e&/e,t o" t-at &-a$e -a.e (een /ai#!

APPLICATION OF RULES TO CLASS MEETIN5S

!lass meetings

42. T-e /$o.i&ion& o" t-e a$ti,le& $elating to gene$al %eeting& a//l) 0it- an)

ne,e&&a$)

%o#i"i,ation& to %eeting& o" t-e -ol#e$& o" an) ,la&& o" &-a$e&!

PART 4

SHARES AND DISTRIBUTIONS

ISSUE OF SHARES

&owers to issue different classes of share

43. 1G Su(@e,t to t-e a$ti,le& (ut 0it-out /$e@u#i,e to t-e $ig-t& atta,-e# to an)

e?i&ting &-a$e t-e ,o%/an) %a) i&&ue &-a$e& 0it- &u,- $ig-t& o$ $e&t$i,tion& a& %a)

(e #ete$%ine# () o$#ina$) $e&olution!

'G T-e ,o%/an) %a) i&&ue &-a$e& 0-i,- a$e to (e $e#ee%e# o$ a$e lia(le to (e

$e#ee%e# at t-e o/tion o" t-e ,o%/an) o$ t-e -ol#e$ an# t-e #i$e,to$& %a) #ete$%inet-e te$%& ,on#ition& an# %anne$ o" $e#e%/tion o" an) &u,- &-a$e&!

&ayment of commissions on subscription for shares

44. 1G T-e ,o%/an) %a) /a) an) /e$&on a ,o%%i&&ion in ,on&i#e$ation "o$ t-at

/e$&on

aG &u(&,$i(ing o$ ag$eeing to &u(&,$i(e "o$ &-a$e& o$

(G /$o,u$ing o$ ag$eeing to /$o,u$e &u(&,$i/tion& "o$ &-a$e&!

'G An) &u,- ,o%%i&&ion %a) (e /ai#

aG in ,a&- o$ in "ull) /ai# o$ /a$tl) /ai# &-a$e& o$ ot-e$ &e,u$itie& o$ /a$tl) in

one 0a) an# /a$tl) in t-e ot-e$ an#(G in $e&/e,t o" a ,on#itional o$ an a(&olute &u(&,$i/tion!

INTERESTS IN SHARES

!ompany not bound by less than absolute interests

4. E?,e/t a& $e<ui$e# () la0 no /e$&on i& to (e $e,ogni&e# () t-e ,o%/an) a&

-ol#ing an) &-a$e u/on an) t$u&t an# e?,e/t a& ot-e$0i&e $e<ui$e# () la0 o$ t-e

a$ti,le& t-e ,o%/an) i& not in an) 0a) to (e (oun# () o$ $e,ogni&e an) inte$e&t in a

&-a$e ot-e$ t-an t-e -ol#e$*& a(&olute o0ne$&-i/ o" it an# all t-e $ig-t& atta,-ing to it!

SHARE CERTIFICATES



!ertificates to be issued e0cept in certain cases

4". 1G T-e ,o%/an) %u&t i&&ue ea,- %e%(e$ 0it- one o$ %o$e ,e$ti"i,ate& in

$e&/e,t o" t-e &-a$e& 0-i,- t-at %e%(e$ -ol#&!

'G T-i& a$ti,le #oe& not a//l) to aG un,e$ti"i,ate# &-a$e&

(G &-a$e& in $e&/e,t o" 0-i,- a &-a$e 0a$$ant -a& (een i&&ue# o$

,G &-a$e& in $e&/e,t o" 0-i,- t-e Co%/anie& A,t& /e$%it t-e ,o%/an) not to

i&&ue a

,e$ti"i,ate!

3G E?,e/t a& ot-e$0i&e &/e,i"ie# in t-e a$ti,le& all ,e$ti"i,ate& %u&t (e i&&ue# "$ee o"

,-a$ge!

4G No ,e$ti"i,ate %a) (e i&&ue# in $e&/e,t o" &-a$e& o" %o$e t-an one ,la&&!

G I" %o$e t-an one /e$&on -ol#& a &-a$e onl) one ,e$ti"i,ate %a) (e i&&ue# in

$e&/e,t o" it!

!ontents and e0ecution of share certificates

4$. 1G E.e$) ,e$ti"i,ate %u&t &/e,i")

aG in $e&/e,t o" -o0 %an) &-a$e& o" 0-at ,la&& it i& i&&ue#

(G t-e no%inal .alue o" t-o&e &-a$e&

,G t-e a%ount /ai# u/ on t-e% an#

#G an) #i&tingui&-ing nu%(e$& a&&igne# to t-e%!

'G Ce$ti"i,ate& %u&t

aG -a.e a""i?e# to t-e% t-e ,o%/an)*& ,o%%on &eal o$ an o""i,ial &eal 0-i,- i& a

"a,&i%ile o" t-e ,o%/an)*& ,o%%on &eal 0it- t-e a##ition on it& "a,e o" t-e 0o$#

Se,u$itie& a &e,u$itie& &ealG o$

(G (e ot-e$0i&e e?e,ute# in a,,o$#an,e 0it- t-e Co%/anie& A,t&!

!onsolidated share certificates

4%. 1G +-en a %e%(e$*& -ol#ing o" &-a$e& o" a /a$ti,ula$ ,la&& in,$ea&e& t-e

,o%/an) %a) i&&ue t-at %e%(e$ 0it-

aG a &ingle ,on&oli#ate# ,e$ti"i,ate in $e&/e,t o" all t-e &-a$e& o" a /a$ti,ula$

,la&& 0-i,- t-at %e%(e$ -ol#& o$

(G a &e/a$ate ,e$ti"i,ate in $e&/e,t o" onl) t-o&e &-a$e& () 0-i,- t-at %e%(e$*&

-ol#ing -a& in,$ea&e#!'G +-en a %e%(e$*& -ol#ing o" &-a$e& o" a /a$ti,ula$ ,la&& i& $e#u,e# t-e ,o%/an)

%u&t en&u$e t-at t-e %e%(e$ i& i&&ue# 0it- one o$ %o$e ,e$ti"i,ate& in $e&/e,t o" t-e

nu%(e$ o" &-a$e& -el# () t-e %e%(e$ a"te$ t-at $e#u,tion! But t-e ,o%/an) nee# not

in t-e a(&en,e o" a $e<ue&t "$o% t-e %e%(e$G i&&ue an) ne0 ,e$ti"i,ate i"

aG all t-e &-a$e& 0-i,- t-e %e%(e$ no longe$ -ol#& a& a $e&ult o" t-e $e#u,tion

an#

(G none o" t-e &-a$e& 0-i,- t-e %e%(e$ $etain& "ollo0ing t-e $e#u,tion

0e$e i%%e#iatel) (e"o$e t-e $e#u,tion $e/$e&ente# () t-e &a%e ,e$ti"i,ate!

3G A %e%(e$ %a) $e<ue&t t-e ,o%/an) in 0$iting to $e/la,e

aG t-e %e%(e$*& &e/a$ate ,e$ti"i,ate& 0it- a ,on&oli#ate# ,e$ti"i,ate o$

(G t-e %e%(e$*& ,on&oli#ate# ,e$ti"i,ate 0it- t0o o$ %o$e &e/a$ate ,e$ti"i,ate&$e/$e&enting &u,- /$o/o$tion o" t-e &-a$e& a& t-e %e%(e$ %a) &/e,i")!



4G +-en t-e ,o%/an) ,o%/lie& 0it- &u,- a $e<ue&t it %a) ,-a$ge &u,- $ea&ona(le

"ee a& t-e #i$e,to$& %a) #e,i#e "o$ #oing &o!

G A ,on&oli#ate# ,e$ti"i,ate %u&t not (e i&&ue# unle&& an) ,e$ti"i,ate& 0-i,- it i& to

$e/la,e -a.e "i$&t (een $etu$ne# to t-e ,o%/an) "o$ ,an,ellation!

eplacement share certificates

4'. 1G I" a ,e$ti"i,ate i&&ue# in $e&/e,t o" a %e%(e$*& &-a$e& i&

aG #a%age# o$ #e"a,e# o$

(G &ai# to (e lo&t &tolen o$ #e&t$o)e#

t-at %e%(e$ i& entitle# to (e i&&ue# 0it- a $e/la,e%ent ,e$ti"i,ate in $e&/e,t o" t-e

&a%e &-a$e&!

'G A %e%(e$ e?e$,i&ing t-e $ig-t to (e i&&ue# 0it- &u,- a $e/la,e%ent ,e$ti"i,ate

aG %a) at t-e &a%e ti%e e?e$,i&e t-e $ig-t to (e i&&ue# 0it- a &ingle ,e$ti"i,ate o$

&e/a$ate ,e$ti"i,ate&

(G %u&t $etu$n t-e ,e$ti"i,ate 0-i,- i& to (e $e/la,e# to t-e ,o%/an) i" it i&

#a%age# o$ #e"a,e# an#,G %u&t ,o%/l) 0it- &u,- ,on#ition& a& to e.i#en,e in#e%nit) an# t-e /a)%ent

o" a

$ea&ona(le "ee a& t-e #i$e,to$& #e,i#e!

SHARES NOT HELD IN CERTIFICATED FORM

5ncertificated shares

). 1G In t-i& a$ti,le t-e $ele.ant $ule& %ean&

aG an) a//li,a(le /$o.i&ion o" t-e Co%/anie& A,t& a(out t-e -ol#ing e.i#en,ing

o" title to o$ t$an&"e$ o" &-a$e& ot-e$ t-an in ,e$ti"i,ate# "o$% an#

(G an) a//li,a(le legi&lation $ule& o$ ot-e$ a$$ange%ent& %a#e un#e$ o$ ()

.i$tue o" &u,- /$o.i&ion!

'G T-e /$o.i&ion& o" t-i& a$ti,le -a.e e""e,t &u(@e,t to t-e $ele.ant $ule&!

3G An) /$o.i&ion o" t-e a$ti,le& 0-i,- i& in,on&i&tent 0it- t-e $ele.ant $ule& %u&t (e

#i&$ega$#e# to t-e e?tent t-at it i& in,on&i&tent 0-ene.e$ t-e $ele.ant $ule& a//l)!

4G An) &-a$e o$ ,la&& o" &-a$e& o" t-e ,o%/an) %a) (e i&&ue# o$ -el# on &u,- te$%&

o$ in &u,- a 0a) t-at

aG title to it o$ t-e% i& not o$ %u&t not (e e.i#en,e# () a ,e$ti"i,ate o$

(G it o$ t-e) %a) o$ %u&t (e t$an&"e$$e# 0-oll) o$ /a$tl) 0it-out a ,e$ti"i,ate!

G T-e #i$e,to$& -a.e /o0e$ to ta7e &u,- &te/& a& t-e) t-in7 "it in $elation to aG t-e e.i#en,ing o" an# t$an&"e$ o" title to un,e$ti"i,ate# &-a$e& in,lu#ing in

,onne,tion 0it- t-e i&&ue o" &u,- &-a$e&G

(G an) $e,o$#& $elating to t-e -ol#ing o" un,e$ti"i,ate# &-a$e&

,G t-e ,on.e$&ion o" ,e$ti"i,ate# &-a$e& into un,e$ti"i,ate# &-a$e& o$

#G t-e ,on.e$&ion o" un,e$ti"i,ate# &-a$e& into ,e$ti"i,ate# &-a$e&!

2G T-e ,o%/an) %a) () noti,e to t-e -ol#e$ o" a &-a$e $e<ui$e t-at &-a$e

aG i" it i& un,e$ti"i,ate# to (e ,on.e$te# into ,e$ti"i,ate# "o$% an#

(G i" it i& ,e$ti"i,ate# to (e ,on.e$te# into un,e$ti"i,ate# "o$%

to ena(le it to (e #ealt 0it- in a,,o$#an,e 0it- t-e a$ti,le&!

6G I"

aG t-e a$ti,le& gi.e t-e #i$e,to$& /o0e$ to ta7e a,tion o$ $e<ui$e ot-e$ /e$&on& tota7e a,tion in o$#e$ to &ell t$an&"e$ o$ ot-e$0i&e #i&/o&e o" &-a$e& an#



(G un,e$ti"i,ate# &-a$e& a$e &u(@e,t to t-at /o0e$ (ut t-e /o0e$ i& e?/$e&&e# in

te$%& 0-i,- a&&u%e t-e u&e o" a ,e$ti"i,ate o$ ot-e$ 0$itten in&t$u%ent

t-e #i$e,to$& %a) ta7e &u,- a,tion a& i& ne,e&&a$) o$ e?/e#ient to a,-ie.e t-e &a%e

$e&ult& 0-en e?e$,i&ing t-at /o0e$ in $elation to un,e$ti"i,ate# &-a$e&!

8G In /a$ti,ula$ t-e #i$e,to$& %a) ta7e &u,- a,tion a& t-e) ,on&i#e$ a//$o/$iate to

a,-ie.e t-e &ale t$an&"e$ #i&/o&al "o$"eitu$e $eallot%ent o$ &u$$en#e$ o" anun,e$ti"i,ate# &-a$e o$ ot-e$0i&e to en"o$,e a lien in $e&/e,t o" it!

9G Unle&& t-e #i$e,to$& ot-e$0i&e #ete$%ine &-a$e& 0-i,- a %e%(e$ -ol#& in

un,e$ti"i,ate# "o$% %u&t (e t$eate# a& &e/a$ate -ol#ing& "$o% an) &-a$e& 0-i,- t-at

%e%(e$ -ol#& in ,e$ti"i,ate# "o$%!

1:G A ,la&& o" &-a$e& %u&t not (e t$eate# a& t0o ,la&&e& &i%/l) (e,au&e &o%e &-a$e&

o" t-at ,la&& a$e -el# in ,e$ti"i,ate# "o$% an# ot-e$& a$e -el# in un,e$ti"i,ate# "o$%!

6hare warrants

1. 1G T-e #i$e,to$& %a) i&&ue a &-a$e 0a$$ant in $e&/e,t o" an) "ull) /ai# &-a$e!

'G S-a$e 0a$$ant& %u&t (e aG i&&ue# in &u,- "o$% an#

(G e?e,ute# in &u,- %anne$

a& t-e #i$e,to$& #e,i#e!

3G A &-a$e $e/$e&ente# () a &-a$e 0a$$ant %a) (e t$an&"e$$e# () #eli.e$) o" t-e

0a$$ant

$e/$e&enting it!

4G T-e #i$e,to$& %a) %a7e /$o.i&ion "o$ t-e /a)%ent o" #i.i#en#& in $e&/e,t o" an)

&-a$e $e/$e&ente# () a &-a$e 0a$$ant!

G Su(@e,t to t-e a$ti,le& t-e #i$e,to$& %a) #e,i#e t-e ,on#ition& on 0-i,- an) &-a$e

0a$$ant i& i&&ue#! In /a$ti,ula$ t-e) %a)

aG #e,i#e t-e ,on#ition& on 0-i,- ne0 0a$$ant& a$e to (e i&&ue# in /la,e o"

0a$$ant& 0-i,- a$e #a%age# o$ #e"a,e# o$ &ai# to -a.e (een lo&t &tolen o$

#e&t$o)e#

(G #e,i#e t-e ,on#ition& on 0-i,- (ea$e$& o" 0a$$ant& a$e entitle# to atten# an#

.ote at gene$al %eeting&

,G #e,i#e t-e ,on#ition& &u(@e,t to 0-i,- (ea$e$& o" 0a$$ant& %a) &u$$en#e$ t-ei$

0a$$ant &o a& to -ol# t-ei$ &-a$e& in ,e$ti"i,ate# o$ un,e$ti"i,ate# "o$% in&tea#

an#

#G .a$) t-e ,on#ition& o" i&&ue o" an) 0a$$ant "$o% ti%e to ti%e

an# t-e (ea$e$ o" a 0a$$ant i& &u(@e,t to t-e ,on#ition& an# /$o,e#u$e& in "o$,e in

$elation to it 0-et-e$ o$ not t-e) 0e$e #e,i#e# o$ &/e,i"ie# (e"o$e t-e 0a$$ant 0a&i&&ue#!

2G Su(@e,t to t-e ,on#ition& on 0-i,- t-e 0a$$ant& a$e i&&ue# "$o% ti%e to ti%e

(ea$e$& o" &-a$e 0a$$ant& -a.e t-e &a%e $ig-t& an# /$i.ilege& a& t-e) 0oul# i" t-ei$

na%e& -a# (een in,lu#e# in t-e $egi&te$ a& -ol#e$& o" t-e &-a$e& $e/$e&ente# () t-ei$

0a$$ant&!

6G T-e ,o%/an) %u&t not in an) 0a) (e (oun# () o$ $e,ogni&e an) inte$e&t in a &-a$e

$e/$e&ente# () a &-a$e 0a$$ant ot-e$ t-an t-e a(&olute $ig-t o" t-e (ea$e$ o" t-at

0a$$ant to t-at 0a$$ant!

PARTL PAID SHARES

!ompany’s lien over partly paid shares



2. 1G T-e ,o%/an) -a& a lien t-e ,o%/an)*& lienG o.e$ e.e$) &-a$e 0-i,- i&

/a$tl) /ai# "o$ an) /a$t o"

aG t-at &-a$e*& no%inal .alue an#

(G an) /$e%iu% at 0-i,- it 0a& i&&ue#

0-i,- -a& not (een /ai# to t-e ,o%/an) an# 0-i,- i& /a)a(le i%%e#iatel) o$ at

&o%e ti%e in t-e "utu$e 0-et-e$ o$ not a ,all noti,e -a& (een &ent in $e&/e,t o" it!'G T-e ,o%/an)*& lien o.e$ a &-a$e

aG ta7e& /$io$it) o.e$ an) t-i$# /a$t)*& inte$e&t in t-at &-a$e an#

(G e?ten#& to an) #i.i#en# o$ ot-e$ %one) /a)a(le () t-e ,o%/an) in $e&/e,t o"

t-at &-a$e an# i" t-e lien i& en"o$,e# an# t-e &-a$e i& &ol# () t-e ,o%/an)G t-e

/$o,ee#& o" &ale o" t-at &-a$e!

3G T-e #i$e,to$& %a) at an) ti%e #e,i#e t-at a &-a$e 0-i,- i& o$ 0oul# ot-e$0i&e (e

&u(@e,t to t-e ,o%/an)*& lien &-all not (e &u(@e,t to it eit-e$ 0-oll) o$ in /a$t!

nforcement of the company’s lien

3. 1G Su(@e,t to t-e /$o.i&ion& o" t-i& a$ti,le i" aG a lien en"o$,e%ent noti,e -a& (een gi.en in $e&/e,t o" a &-a$e an#

(G t-e /e$&on to 0-o% t-e noti,e 0a& gi.en -a& "aile# to ,o%/l) 0it- it

t-e ,o%/an) %a) &ell t-at &-a$e in &u,- %anne$ a& t-e #i$e,to$& #e,i#e!

'G A lien en"o$,e%ent noti,e

aG %a) onl) (e gi.en in $e&/e,t o" a &-a$e 0-i,- i& &u(@e,t to t-e ,o%/an)*&

lien in $e&/e,t o" 0-i,- a &u% i& /a)a(le an# t-e #ue #ate "o$ /a)%ent o" t-at

&u% -a& /a&&e#

(G %u&t &/e,i") t-e &-a$e ,on,e$ne#

,G %u&t $e<ui$e /a)%ent o" t-e &u% /a)a(le 0it-in 14 #a)& o" t-e noti,e

#G %u&t (e a##$e&&e# eit-e$ to t-e -ol#e$ o" t-e &-a$e o$ to a /e$&on entitle# to it

() $ea&on o" t-e -ol#e$*& #eat- (an7$u/t,) o$ ot-e$0i&e an#

eG %u&t &tate t-e ,o%/an)*& intention to &ell t-e &-a$e i" t-e noti,e i& not

,o%/lie# 0it-!

3G +-e$e &-a$e& a$e &ol# un#e$ t-i& a$ti,le

aG t-e #i$e,to$& %a) aut-o$i&e an) /e$&on to e?e,ute an in&t$u%ent o" t$an&"e$ o"

t-e &-a$e& to t-e /u$,-a&e$ o$ a /e$&on no%inate# () t-e /u$,-a&e$ an#

(G t-e t$an&"e$ee i& not (oun# to &ee to t-e a//li,ation o" t-e ,on&i#e$ation an#

t-e

t$an&"e$ee*& title i& not a""e,te# () an) i$$egula$it) in o$ in.ali#it) o" t-e /$o,e&&

lea#ing to t-e &ale!

4G T-e net /$o,ee#& o" an) &u,- &ale a"te$ /a)%ent o" t-e ,o&t& o" &ale an# an) ot-e$,o&t& o" en"o$,ing t-e lienG %u&t (e a//lie#

aG "i$&t in /a)%ent o" &o %u,- o" t-e &u% "o$ 0-i,- t-e lien e?i&t& a& 0a&

/a)a(le at t-e #ate o" t-e lien en"o$,e%ent noti,e

(G &e,on# to t-e /e$&on entitle# to t-e &-a$e& at t-e #ate o" t-e &ale (ut onl)

a"te$ t-e ,e$ti"i,ate "o$ t-e &-a$e& &ol# -a& (een &u$$en#e$e# to t-e ,o%/an) "o$

,an,ellation o$ a &uita(le in#e%nit) -a& (een gi.en "o$ an) lo&t ,e$ti"i,ate& an#

&u(@e,t to a lien e<ui.alent

to t-e ,o%/an)*& lien o.e$ t-e &-a$e& (e"o$e t-e &ale "o$ an) %one) /a)a(le in

$e&/e,t o" t-e &-a$e& a"te$ t-e #ate o" t-e lien en"o$,e%ent noti,e!

G A &tatuto$) #e,la$ation () a #i$e,to$ o$ t-e ,o%/an) &e,$eta$) t-at t-e #e,la$ant i&

a #i$e,to$ o$ t-e ,o%/an) &e,$eta$) an# t-at a &-a$e -a& (een &ol# to &ati&") t-e,o%/an)*& lien on a &/e,i"ie# #ate



aG i& ,on,lu&i.e e.i#en,e o" t-e "a,t& &tate# in it a& again&t all /e$&on& ,lai%ing to (e

entitle# to t-e &-a$e an#

(G &u(@e,t to ,o%/lian,e 0it- an) ot-e$ "o$%alitie& o" t$an&"e$ $e<ui$e# () t-e a$ti,le&

o$ () la0 ,on&titute& a goo# title to t-e &-a$e!

!all notices

4. 1G Su(@e,t to t-e a$ti,le& an# t-e te$%& on 0-i,- &-a$e& a$e allotte# t-e

#i$e,to$& %a) &en# a noti,e a ,all noti,eG to a %e%(e$ $e<ui$ing t-e %e%(e$ to /a)

t-e ,o%/an) a &/e,i"ie# &u% o" %one) a ,allG 0-i,- i& /a)a(le in $e&/e,t o" &-a$e&

0-i,- t-at %e%(e$ -ol#& at t-e #ate 0-en t-e #i$e,to$& #e,i#e to &en# t-e ,all noti,e!

'G A ,all noti,e

aG %a) not $e<ui$e a %e%(e$ to /a) a ,all 0-i,- e?,ee#& t-e total &u% un/ai# on

t-at %e%(e$*& &-a$e& 0-et-e$ a& to t-e &-a$e*& no%inal .alue o$ an) a%ount

/a)a(le to t-e ,o%/an) () 0a) o" /$e%iu%G

(G %u&t &tate 0-en an# -o0 an) ,all to 0-i,- it $elate& it i& to (e /ai# an#

,G %a) /e$%it o$ $e<ui$e t-e ,all to (e /ai# () in&tal%ent&!3G A %e%(e$ %u&t ,o%/l) 0it- t-e $e<ui$e%ent& o" a ,all noti,e (ut no %e%(e$ i&

o(lige# to /a) an) ,all (e"o$e 14 #a)& -a.e /a&&e# &in,e t-e noti,e 0a& &ent!

4G Be"o$e t-e ,o%/an) -a& $e,ei.e# an) ,all #ue un#e$ a ,all noti,e t-e #i$e,to$&

%a)

aG $e.o7e it 0-oll) o$ in /a$t o$

(G &/e,i") a late$ ti%e "o$ /a)%ent t-an i& &/e,i"ie# in t-e noti,e

() a "u$t-e$ noti,e in 0$iting to t-e %e%(e$ in $e&/e,t o" 0-o&e &-a$e& t-e ,all i&

%a#e!

Liability to pay calls

. 1G Lia(ilit) to /a) a ,all i& not e?tingui&-e# o$ t$an&"e$$e# () t$an&"e$$ing t-e

&-a$e& in $e&/e,t o" 0-i,- it i& $e<ui$e# to (e /ai#!

'G oint -ol#e$& o" a &-a$e a$e @ointl) an# &e.e$all) lia(le to /a) all ,all& in $e&/e,t o"

t-at &-a$e!

3G Su(@e,t to t-e te$%& on 0-i,- &-a$e& a$e allotte# t-e #i$e,to$& %a) 0-en i&&uing

&-a$e& /$o.i#e t-at ,all noti,e& &ent to t-e -ol#e$& o" t-o&e &-a$e& %a) $e<ui$e t-e%

aG to /a) ,all& 0-i,- a$e not t-e &a%e o$

(G to /a) ,all& at #i""e$ent ti%e&!

7hen call notice need not be issued

". 1G A ,all noti,e nee# not (e i&&ue# in $e&/e,t o" &u%& 0-i,- a$e &/e,i"ie# in

t-e te$%& on 0-i,- a &-a$e i& i&&ue# a& (eing /a)a(le to t-e ,o%/an) in $e&/e,t o"

t-at &-a$e 0-et-e$ in $e&/e,t o" no%inal .alue o$ /$e%iu%G

aG on allot%ent

(G on t-e o,,u$$en,e o" a /a$ti,ula$ e.ent o$

,G on a #ate "i?e# () o$ in a,,o$#an,e 0it- t-e te$%& o" i&&ue!

'G But i" t-e #ue #ate "o$ /a)%ent o" &u,- a &u% -a& /a&&e# an# it -a& not (een /ai#

t-e -ol#e$ o" t-e &-a$e ,on,e$ne# i& t$eate# in all $e&/e,t& a& -a.ing "aile# to ,o%/l)

0it- a ,all noti,e in $e&/e,t o" t-at &u% an# i& lia(le to t-e &a%e ,on&e<uen,e& a&$ega$#& t-e /a)%ent o" inte$e&t an# "o$"eitu$e!



8ailure to comply with call notice, automatic conse*uences

$. 1G I" a /e$&on i& lia(le to /a) a ,all an# "ail& to #o &o () t-e ,all /a)%ent #ate

aG t-e #i$e,to$& %a) i&&ue a noti,e o" inten#e# "o$"eitu$e to t-at /e$&on an#

(G until t-e ,all i& /ai# t-at /e$&on %u&t /a) t-e ,o%/an) inte$e&t on t-e ,all"$o% t-e ,all /a)%ent #ate at t-e $ele.ant $ate!

'G Fo$ t-e /u$/o&e& o" t-i& a$ti,le

aG t-e ,all /a)%ent #ate i& t-e ti%e 0-en t-e ,all noti,e &tate& t-at a ,all i&

/a)a(le unle&& t-e #i$e,to$& gi.e a noti,e &/e,i")ing a late$ #ate in 0-i,- ,a&e

t-e ,all /a)%ent #ate i& t-at late$ #ate

(G t-e $ele.ant $ate i&

iG t-e $ate "i?e# () t-e te$%& on 0-i,- t-e &-a$e in $e&/e,t o" 0-i,- t-e

,all i& #ue 0a& allotte#

iiG &u,- ot-e$ $ate a& 0a& "i?e# in t-e ,all noti,e 0-i,- $e<ui$e# /a)%ent

o" t-e ,all o$ -a& ot-e$0i&e (een #ete$%ine# () t-e #i$e,to$& o$

iiiG i" no $ate i& "i?e# in eit-e$ o" t-e&e 0a)& /e$ ,ent /e$ annu%!3G T-e $ele.ant $ate %u&t not e?,ee# () %o$e t-an /e$,entage /oint& t-e (a&e

len#ing $ate %o&t $e,entl) &et () t-e Moneta$) Poli,) Co%%ittee o" t-e Ban7 o"

Englan# in ,onne,tion 0it- it& $e&/on&i(ilitie& un#e$ Pa$t ' o" t-e Ban7 o" Englan#

A,t 1998aG!

4G T-e #i$e,to$& %a) 0ai.e an) o(ligation to /a) inte$e&t on a ,all 0-oll) o$ in /a$t!

otice of intended forfeiture

%. A noti,e o" inten#e# "o$"eitu$e

aG %a) (e &ent in $e&/e,t o" an) &-a$e in $e&/e,t o" 0-i,- a ,all -a& not (een

/ai# a&

$e<ui$e# () a ,all noti,e

(G %u&t (e &ent to t-e -ol#e$ o" t-at &-a$e o$ to a /e$&on entitle# to it () $ea&on

o" t-e -ol#e$*& #eat- (an7$u/t,) o$ ot-e$0i&e

,G %u&t $e<ui$e /a)%ent o" t-e ,all an# an) a,,$ue# inte$e&t () a #ate 0-i,- i&

not le&& t-an 14 #a)& a"te$ t-e #ate o" t-e noti,e

#G %u&t &tate -o0 t-e /a)%ent i& to (e %a#e an#

eG %u&t &tate t-at i" t-e noti,e i& not ,o%/lie# 0it- t-e &-a$e& in $e&/e,t o"

0-i,- t-e ,all i& /a)a(le 0ill (e lia(le to (e "o$"eite#!

aG 1998 ,!11!

Directors’ power to forfeit shares

'. I" a noti,e o" inten#e# "o$"eitu$e i& not ,o%/lie# 0it- (e"o$e t-e #ate () 0-i,-

/a)%ent o" t-e ,all i& $e<ui$e# in t-e noti,e o" inten#e# "o$"eitu$e t-e #i$e,to$& %a)

#e,i#e t-at an) &-a$e in $e&/e,t o" 0-i,- it 0a& gi.en i& "o$"eite# an# t-e "o$"eitu$e i&

to in,lu#e all #i.i#en#& o$ ot-e$ %one)& /a)a(le in $e&/e,t o" t-e "o$"eite# &-a$e& an#not /ai# (e"o$e t-e "o$"eitu$e!



ffect of forfeiture

"). 1G Su(@e,t to t-e a$ti,le& t-e "o$"eitu$e o" a &-a$e e?tingui&-e&

aG all inte$e&t& in t-at &-a$e an# all ,lai%& an# #e%an#& again&t t-e ,o%/an) in

$e&/e,t o" it an#(G all ot-e$ $ig-t& an# lia(ilitie& in,i#ental to t-e &-a$e a& (et0een t-e /e$&on

0-o&e &-a$e it 0a& /$io$ to t-e "o$"eitu$e an# t-e ,o%/an)!

'G An) &-a$e 0-i,- i& "o$"eite# in a,,o$#an,e 0it- t-e a$ti,le&

aG i& #ee%e# to -a.e (een "o$"eite# 0-en t-e #i$e,to$& #e,i#e t-at it i& "o$"eite#

(G i& #ee%e# to (e t-e /$o/e$t) o" t-e ,o%/an) an#

,G %a) (e &ol# $eallotte# o$ ot-e$0i&e #i&/o&e# o" a& t-e #i$e,to$& t-in7 "it!

3G I" a /e$&on*& &-a$e& -a.e (een "o$"eite#

aG t-e ,o%/an) %u&t &en# t-at /e$&on noti,e t-at "o$"eitu$e -a& o,,u$$e# an#

$e,o$# it in t-e$egi&te$ o" %e%(e$&

(G t-at /e$&on ,ea&e& to (e a %e%(e$ in $e&/e,t o" t-o&e &-a$e&

,G t-at /e$&on %u&t &u$$en#e$ t-e ,e$ti"i,ate "o$ t-e &-a$e& "o$"eite# to t-e,o%/an) "o$ ,an,ellation

#G t-at /e$&on $e%ain& lia(le to t-e ,o%/an) "o$ all &u%& /a)a(le () t-at /e$&on

un#e$ t-e a$ti,le& at t-e #ate o" "o$"eitu$e in $e&/e,t o" t-o&e &-a$e& in,lu#ing an)

inte$e&t 0-et-e$ a,,$ue# (e"o$e o$ a"te$ t-e #ate o" "o$"eitu$eG an#

eG t-e #i$e,to$& %a) 0ai.e /a)%ent o" &u,- &u%& 0-oll) o$ in /a$t o$ en"o$,e

/a)%ent 0it-out an) allo0an,e "o$ t-e .alue o" t-e &-a$e& at t-e ti%e o"

"o$"eitu$e o$ "o$ an) ,on&i#e$ation $e,ei.e# on t-ei$ #i&/o&al!

4G At an) ti%e (e"o$e t-e ,o%/an) #i&/o&e& o" a "o$"eite# &-a$e t-e #i$e,to$& %a)

#e,i#e to ,an,el t-e "o$"eitu$e on /a)%ent o" all ,all& an# inte$e&t #ue in $e&/e,t o" it

an# on &u,- ot-e$ te$%& a& t-e) t-in7 "it!

&rocedure following forfeiture

"1. 1G I" a "o$"eite# &-a$e i& to (e #i&/o&e# o" () (eing t$an&"e$$e# t-e ,o%/an)

%a) $e,ei.e t-e ,on&i#e$ation "o$ t-e t$an&"e$ an# t-e #i$e,to$& %a) aut-o$i&e an)

/e$&on to e?e,ute t-e in&t$u%ent o" t$an&"e$!

'G A &tatuto$) #e,la$ation () a #i$e,to$ o$ t-e ,o%/an) &e,$eta$) t-at t-e #e,la$ant i&

a #i$e,to$ o$ t-e ,o%/an) &e,$eta$) an# t-at a &-a$e -a& (een "o$"eite# on a &/e,i"ie#

#ate

aG i& ,on,lu&i.e e.i#en,e o" t-e "a,t& &tate# in it a& again&t all /e$&on& ,lai%ing

to (e entitle# to t-e &-a$e an#(G &u(@e,t to ,o%/lian,e 0it- an) ot-e$ "o$%alitie& o" t$an&"e$ $e<ui$e# () t-e

a$ti,le& o$ () la0 ,on&titute& a goo# title to t-e &-a$e!

3G A /e$&on to 0-o% a "o$"eite# &-a$e i& t$an&"e$$e# i& not (oun# to &ee to t-e

a//li,ation o" t-e ,on&i#e$ation i" an)G no$ i& t-at /e$&on*& title to t-e &-a$e a""e,te#

() an) i$$egula$it) in o$ in.ali#it) o" t-e /$o,e&& lea#ing to t-e "o$"eitu$e o$ t$an&"e$

o" t-e &-a$e!

4G I" t-e ,o%/an) &ell& a "o$"eite# &-a$e t-e /e$&on 0-o -el# it /$io$ to it& "o$"eitu$e

i& entitle# to $e,ei.e "$o% t-e ,o%/an) t-e /$o,ee#& o" &u,- &ale net o" an)

,o%%i&&ion an# e?,lu#ing an) a%ount 0-i,-

aG 0a& o$ 0oul# -a.e (e,o%e /a)a(le an#

(G -a# not 0-en t-at &-a$e 0a& "o$"eite# (een /ai# () t-at /e$&on in $e&/e,t o"t-at &-a$e



(ut no inte$e&t i& /a)a(le to &u,- a /e$&on in $e&/e,t o" &u,- /$o,ee#& an# t-e

,o%/an) i& not $e<ui$e# to a,,ount "o$ an) %one) ea$ne# on t-e%!

6urrender of shares

"2. 1G A %e%(e$ %a) &u$$en#e$ an) &-a$e aG in $e&/e,t o" 0-i,- t-e #i$e,to$& %a) i&&ue a noti,e o" inten#e# "o$"eitu$e

(G 0-i,- t-e #i$e,to$& %a) "o$"eit o$

,G 0-i,- -a& (een "o$"eite#!

'G T-e #i$e,to$& %a) a,,e/t t-e &u$$en#e$ o" an) &u,- &-a$e!

3G T-e e""e,t o" &u$$en#e$ on a &-a$e i& t-e &a%e a& t-e e""e,t o" "o$"eitu$e on t-at

&-a$e!

4G A &-a$e 0-i,- -a& (een &u$$en#e$e# %a) (e #ealt 0it- in t-e &a%e 0a) a& a &-a$e

0-i,- -a& (een "o$"eite#!

TRANSFER AND TRANSMISSION OF SHARES

/ransfers of certificated shares

"3. 1G Ce$ti"i,ate# &-a$e& %a) (e t$an&"e$$e# () %ean& o" an in&t$u%ent o" t$an&"e$

in an) u&ual "o$% o$ an) ot-e$ "o$% a//$o.e# () t-e #i$e,to$& 0-i,- i& e?e,ute# ()

o$ on (e-al" o"

aG t-e t$an&"e$o$ an#

(G i" an) o" t-e &-a$e& i& /a$tl) /ai#G t-e t$an&"e$ee!

'G No "ee %a) (e ,-a$ge# "o$ $egi&te$ing an) in&t$u%ent o" t$an&"e$ o$ ot-e$

#o,u%ent $elating to o$ a""e,ting t-e title to an) &-a$e!

3G T-e ,o%/an) %a) $etain an) in&t$u%ent o" t$an&"e$ 0-i,- i& $egi&te$e#!

4G T-e t$an&"e$o$ $e%ain& t-e -ol#e$ o" a ,e$ti"i,ate# &-a$e until t-e t$an&"e$ee*& na%e

i& ente$e# in t-e $egi&te$ o" %e%(e$& a& -ol#e$ o" it!

G T-e #i$e,to$& %a) $e"u&e to $egi&te$ t-e t$an&"e$ o" a ,e$ti"i,ate# &-a$e i"

aG t-e &-a$e i& not "ull) /ai#

(G t-e t$an&"e$ i& not lo#ge# at t-e ,o%/an)*& $egi&te$e# o""i,e o$ &u,- ot-e$

/la,e a& t-e #i$e,to$& -a.e a//ointe#

,G t-e t$an&"e$ i& not a,,o%/anie# () t-e ,e$ti"i,ate "o$ t-e &-a$e& to 0-i,- it

$elate& o$ &u,- ot-e$ e.i#en,e a& t-e #i$e,to$& %a) $ea&ona(l) $e<ui$e to &-o0

t-e t$an&"e$o$*& $ig-t to %a7e t-e t$an&"e$ o$ e.i#en,e o" t-e $ig-t o" &o%eone

ot-e$ t-an t-e t$an&"e$o$ to %a7e t-e t$an&"e$ on t-e t$an&"e$o$*& (e-al"

#G t-e t$an&"e$ i& in $e&/e,t o" %o$e t-an one ,la&& o" &-a$e o$ eG t-e t$an&"e$ i& in "a.ou$ o" %o$e t-an "ou$ t$an&"e$ee&!

2G I" t-e #i$e,to$& $e"u&e to $egi&te$ t-e t$an&"e$ o" a &-a$e t-e in&t$u%ent o" t$an&"e$

%u&t (e $etu$ne# to t-e t$an&"e$ee 0it- t-e noti,e o" $e"u&al unle&& t-e) &u&/e,t t-at

t-e /$o/o&e# t$an&"e$ %a) (e "$au#ulent!

/ransfer of uncertificated shares

"4. A t$an&"e$ o" an un,e$ti"i,ate# &-a$e %u&t not (e $egi&te$e# i" it i& in "a.ou$ o"

%o$e t-an "ou$ t$an&"e$ee&!

/ransmission of shares



". 1G I" title to a &-a$e /a&&e& to a t$an&%ittee t-e ,o%/an) %a) onl) $e,ogni&e

t-e

t$an&%ittee a& -a.ing an) title to t-at &-a$e!

'G Not-ing in t-e&e a$ti,le& $elea&e& t-e e&tate o" a #e,ea&e# %e%(e$ "$o% an)

lia(ilit) in $e&/e,t o" a &-a$e &olel) o$ @ointl) -el# () t-at %e%(e$!

/ransmittees’ rights

"". 1G A t$an&%ittee 0-o /$o#u,e& &u,- e.i#en,e o" entitle%ent to &-a$e& a& t-e

#i$e,to$& %a) /$o/e$l) $e<ui$e

aG %a) &u(@e,t to t-e a$ti,le& ,-oo&e eit-e$ to (e,o%e t-e -ol#e$ o" t-o&e &-a$e&

o$ to -a.e t-e% t$an&"e$$e# to anot-e$ /e$&on an#

(G &u(@e,t to t-e a$ti,le& an# /en#ing an) t$an&"e$ o" t-e &-a$e& to anot-e$

/e$&on -a& t-e &a%e $ig-t& a& t-e -ol#e$ -a#!

'G But t$an&%ittee& #o not -a.e t-e $ig-t to atten# o$ .ote at a gene$al %eeting in

$e&/e,t o" &-a$e& to 0-i,- t-e) a$e entitle# () $ea&on o" t-e -ol#e$*& #eat- o$

(an7$u/t,) o$ ot-e$0i&e unle&& t-e) (e,o%e t-e -ol#e$& o" t-o&e &-a$e&

0ercise of transmittees’ rights

"$. 1G T$an&%ittee& 0-o 0i&- to (e,o%e t-e -ol#e$& o" &-a$e& to 0-i,- t-e) -a.e

(e,o%e entitle# %u&t noti") t-e ,o%/an) in 0$iting o" t-at 0i&-!

'G I" t-e &-a$e i& a ,e$ti"i,ate# &-a$e an# a t$an&%ittee 0i&-e& to -a.e it t$an&"e$$e# to

anot-e$ /e$&on t-e t$an&%ittee %u&t e?e,ute an in&t$u%ent o" t$an&"e$ in $e&/e,t o" it!

3G I" t-e &-a$e i& an un,e$ti"i,ate# &-a$e an# t-e t$an&%ittee 0i&-e& to -a.e it

t$an&"e$$e# to anot-e$ /e$&on t-e t$an&%ittee %u&t

aG /$o,u$e t-at all a//$o/$iate in&t$u,tion& a$e gi.en to e""e,t t-e t$an&"e$ o$

(G /$o,u$e t-at t-e un,e$ti"i,ate# &-a$e i& ,-ange# into ,e$ti"i,ate# "o$% an# t-en

e?e,ute an in&t$u%ent o" t$an&"e$ in $e&/e,t o" it!

4G An) t$an&"e$ %a#e o$ e?e,ute# un#e$ t-i& a$ti,le i& to (e t$eate# a& i" it 0e$e %a#e

o$

e?e,ute# () t-e /e$&on "$o% 0-o% t-e t$an&%ittee -a& #e$i.e# $ig-t& in $e&/e,t o" t-e

&-a$e an# a& i" t-e e.ent 0-i,- ga.e $i&e to t-e t$an&%i&&ion -a# not o,,u$$e#!

/ransmittees bound by prior notices

"%. I" a noti,e i& gi.en to a %e%(e$ in $e&/e,t o" &-a$e& an# a t$an&%ittee i& entitle# to

t-o&e &-a$e& t-e t$an&%ittee i& (oun# () t-e noti,e i" it 0a& gi.en to t-e %e%(e$

(e"o$e t-e t$an&%ittee*& na%e -a& (een ente$e# in t-e $egi&te$ o" %e%(e$&!

CONSOLIDATION OF SHARES

&rocedure for disposing of fractions of shares

"'. 1G T-i& a$ti,le a//lie& 0-e$e

aG t-e$e -a& (een a ,on&oli#ation o$ #i.i&ion o" &-a$e& an#

(G a& a $e&ult %e%(e$& a$e entitle# to "$a,tion& o" &-a$e&!

'G T-e #i$e,to$& %a)

aG &ell t-e &-a$e& $e/$e&enting t-e "$a,tion& to an) /e$&on in,lu#ing t-e ,o%/an)

"o$ t-e (e&t /$i,e $ea&ona(l) o(taina(le(G in t-e ,a&e o" a ,e$ti"i,ate# &-a$e aut-o$i&e an) /e$&on to e?e,ute an



in&t$u%ent o" t$an&"e$ o" t-e &-a$e& to t-e /u$,-a&e$ o$ a /e$&on no%inate# () t-e

/u$,-a&e$ an#

,G #i&t$i(ute t-e net /$o,ee#& o" &ale in #ue /$o/o$tion a%ong t-e -ol#e$& o" t-e

&-a$e&!

3G +-e$e an) -ol#e$*& entitle%ent to a /o$tion o" t-e /$o,ee#& o" &ale a%ount& to le&&

t-an a %ini%u% "igu$e #ete$%ine# () t-e #i$e,to$& t-at %e%(e$*& /o$tion %a) (e#i&t$i(ute# to an o$gani&ation 0-i,- i& a ,-a$it) "o$ t-e /u$/o&e& o" t-e la0 o"

Englan# an# +ale& S,otlan# o$ No$t-e$n I$elan#!

4G T-e /e$&on to 0-o% t-e &-a$e& a$e t$an&"e$$e# i& not o(lige# to en&u$e t-at an)

/u$,-a&e %one) i& $e,ei.e# () t-e /e$&on entitle# to t-e $ele.ant "$a,tion&!

G T-e t$an&"e$ee*& title to t-e &-a$e& i& not a""e,te# () an) i$$egula$it) in o$

in.ali#it) o" t-e /$o,e&& lea#ing to t-ei$ &ale!

DISTRIBUTIONS

&rocedure for declaring dividends

$). 1G T-e ,o%/an) %a) () o$#ina$) $e&olution #e,la$e #i.i#en#& an# t-e

#i$e,to$& %a) #e,i#e to /a) inte$i% #i.i#en#&!

'G A #i.i#en# %u&t not (e #e,la$e# unle&& t-e #i$e,to$& -a.e %a#e a

$e,o%%en#ation a& to it& a%ount! Su,- a #i.i#en# %u&t not e?,ee# t-e a%ount

$e,o%%en#e# () t-e #i$e,to$&!

3G No #i.i#en# %a) (e #e,la$e# o$ /ai# unle&& it i& in a,,o$#an,e 0it- %e%(e$&*

$e&/e,ti.e $ig-t&!

4G Unle&& t-e %e%(e$&* $e&olution to #e,la$e o$ #i$e,to$&* #e,i&ion to /a) a #i.i#en#

o$ t-e te$%& on 0-i,- &-a$e& a$e i&&ue# &/e,i") ot-e$0i&e it %u&t (e /ai# ()

$e"e$en,e to ea,- %e%(e$*& -ol#ing o" &-a$e& on t-e #ate o" t-e $e&olution o$ #e,i&ion

to #e,la$e o$ /a) it!

G I" t-e ,o%/an)*& &-a$e ,a/ital i& #i.i#e# into #i""e$ent ,la&&e& no inte$i% #i.i#en#

%a) (e /ai# on &-a$e& ,a$$)ing #e"e$$e# o$ non/$e"e$$e# $ig-t& i" at t-e ti%e o"

/a)%ent an) /$e"e$ential #i.i#en# i& in a$$ea$!

2G T-e #i$e,to$& %a) /a) at inte$.al& an) #i.i#en# /a)a(le at a "i?e# $ate i" it a//ea$&

to t-e% t-at t-e /$o"it& a.aila(le "o$ #i&t$i(ution @u&ti") t-e /a)%ent!

6G I" t-e #i$e,to$& a,t in goo# "ait- t-e) #o not in,u$ an) lia(ilit) to t-e -ol#e$& o"

&-a$e&

,on"e$$ing /$e"e$$e# $ig-t& "o$ an) lo&& t-e) %a) &u""e$ () t-e la0"ul /a)%ent o" an

inte$i% #i.i#en# on &-a$e& 0it- #e"e$$e# o$ non/$e"e$$e# $ig-t&!

!alculation of dividends

$1. 1G E?,e/t a& ot-e$0i&e /$o.i#e# () t-e a$ti,le& o$ t-e $ig-t& atta,-e# to &-a$e&

all

#i.i#en#& %u&t (e

aG #e,la$e# an# /ai# a,,o$#ing to t-e a%ount& /ai# u/ on t-e &-a$e& on 0-i,-

t-e #i.i#en# i& /ai# an#

(G a//o$tione# an# /ai# /$o/o$tionatel) to t-e a%ount& /ai# u/ on t-e &-a$e&

#u$ing an) /o$tion o$ /o$tion& o" t-e /e$io# in $e&/e,t o" 0-i,- t-e #i.i#en# i&

/ai#!

'G I" an) &-a$e i& i&&ue# on te$%& /$o.i#ing t-at it $an7& "o$ #i.i#en# a& "$o% a /a$ti,ula$ #ate t-at &-a$e $an7& "o$ #i.i#en# a,,o$#ingl)!



3G Fo$ t-e /u$/o&e& o" ,al,ulating #i.i#en#& no a,,ount i& to (e ta7en o" an) a%ount

0-i,- -a& (een /ai# u/ on a &-a$e in a#.an,e o" t-e #ue #ate "o$ /a)%ent o" t-at

a%ount!

&ayment of dividends and other distributions

$2. 1G +-e$e a #i.i#en# o$ ot-e$ &u% 0-i,- i& a #i&t$i(ution i& /a)a(le in $e&/e,t

o" a &-a$e it %u&t (e /ai# () one o$ %o$e o" t-e "ollo0ing %ean&

aG t$an&"e$ to a (an7 o$ (uil#ing &o,iet) a,,ount &/e,i"ie# () t-e #i&t$i(ution

$e,i/ient eit-e$ in 0$iting o$ a& t-e #i$e,to$& %a) ot-e$0i&e #e,i#e

(G &en#ing a ,-e<ue %a#e /a)a(le to t-e #i&t$i(ution $e,i/ient () /o&t to t-e

#i&t$i(ution $e,i/ient at t-e #i&t$i(ution $e,i/ient*& $egi&te$e# a##$e&& i" t-e

#i&t$i(ution $e,i/ient i& a -ol#e$ o" t-e &-a$eG o$ in an) ot-e$ ,a&eG to an a##$e&&

&/e,i"ie# () t-e #i&t$i(ution $e,i/ient eit-e$ in 0$iting o$ a& t-e #i$e,to$& %a)

ot-e$0i&e #e,i#e

,G &en#ing a ,-e<ue %a#e /a)a(le to &u,- /e$&on () /o&t to &u,- /e$&on at &u,-

a##$e&& a& t-e #i&t$i(ution $e,i/ient -a& &/e,i"ie# eit-e$ in 0$iting o$ a& t-e#i$e,to$& %a) ot-e$0i&e #e,i#e o$

#G an) ot-e$ %ean& o" /a)%ent a& t-e #i$e,to$& ag$ee 0it- t-e #i&t$i(ution

$e,i/ient eit-e$ in 0$iting o$ () &u,- ot-e$ %ean& a& t-e #i$e,to$& #e,i#e!

'G In t-e a$ti,le& t-e #i&t$i(ution $e,i/ient %ean& in $e&/e,t o" a &-a$e in $e&/e,t o"

0-i,- a #i.i#en# o$ ot-e$ &u% i& /a)a(le

aG t-e -ol#e$ o" t-e &-a$e o$

(G i" t-e &-a$e -a& t0o o$ %o$e @oint -ol#e$& 0-i,-e.e$ o" t-e% i& na%e# "i$&t in

t-e $egi&te$ o" %e%(e$& o$

,G i" t-e -ol#e$ i& no longe$ entitle# to t-e &-a$e () $ea&on o" #eat- o$

(an7$u/t,) o$

ot-e$0i&e () o/e$ation o" la0 t-e t$an&%ittee!

Deductions from distributions in respect of sums owed to the company

$3. 1G I"

aG a &-a$e i& &u(@e,t to t-e ,o%/an)*& lien an#

(G t-e #i$e,to$& a$e entitle# to i&&ue a lien en"o$,e%ent noti,e in $e&/e,t o" it

t-e) %a) in&tea# o" i&&uing a lien en"o$,e%ent noti,e #e#u,t "$o% an) #i.i#en# o$

ot-e$ &u% /a)a(le in $e&/e,t o" t-e &-a$e an) &u% o" %one) 0-i,- i& /a)a(le to t-e

,o%/an) in $e&/e,t o" t-at &-a$e to t-e e?tent t-at t-e) a$e entitle# to $e<ui$e /a)%ent

un#e$ a lien en"o$,e%ent noti,e!'G Mone) &o #e#u,te# %u&t (e u&e# to /a) an) o" t-e &u%& /a)a(le in $e&/e,t o" t-at

&-a$e!

3G T-e ,o%/an) %u&t noti") t-e #i&t$i(ution $e,i/ient in 0$iting o"

aG t-e "a,t an# a%ount o" an) &u,- #e#u,tion

(G an) non/a)%ent o" a #i.i#en# o$ ot-e$ &u% /a)a(le in $e&/e,t o" a &-a$e

$e&ulting "$o% an) &u,- #e#u,tion an#

,G -o0 t-e %one) #e#u,te# -a& (een a//lie#!

o interest on distributions

$4. T-e ,o%/an) %a) not /a) inte$e&t on an) #i.i#en# o$ ot-e$ &u% /a)a(le in$e&/e,t o" a &-a$e unle&& ot-e$0i&e /$o.i#e# ()



aG t-e te$%& on 0-i,- t-e &-a$e 0a& i&&ue# o$

(G t-e /$o.i&ion& o" anot-e$ ag$ee%ent (et0een t-e -ol#e$ o" t-at &-a$e an# t-e

,o%/an)!

5nclaimed distributions

$. 1G All #i.i#en#& o$ ot-e$ &u%& 0-i,- a$e

aG /a)a(le in $e&/e,t o" &-a$e& an#

(G un,lai%e# a"te$ -a.ing (een #e,la$e# o$ (e,o%e /a)a(le

%a) (e in.e&te# o$ ot-e$0i&e %a#e u&e o" () t-e #i$e,to$& "o$ t-e (ene"it o" t-e

,o%/an) until ,lai%e#!

'G T-e /a)%ent o" an) &u,- #i.i#en# o$ ot-e$ &u% into a &e/a$ate a,,ount #oe& not

%a7e t-e ,o%/an) a t$u&tee in $e&/e,t o" it!

3G I"

aG t0el.e )ea$& -a.e /a&&e# "$o% t-e #ate on 0-i,- a #i.i#en# o$ ot-e$ &u%

(e,a%e #ue "o$ /a)%ent an#

(G t-e #i&t$i(ution $e,i/ient -a& not ,lai%e# itt-e #i&t$i(ution $e,i/ient i& no longe$ entitle# to t-at #i.i#en# o$ ot-e$ &u% an# it

,ea&e& to $e%ain o0ing () t-e ,o%/an)!

oncash distributions

$". 1G Su(@e,t to t-e te$%& o" i&&ue o" t-e &-a$e in <ue&tion t-e ,o%/an) %a) ()

o$#ina$) $e&olution on t-e $e,o%%en#ation o" t-e #i$e,to$& #e,i#e to /a) all o$ /a$t

o" a #i.i#en# o$ ot-e$ #i&t$i(ution /a)a(le in $e&/e,t o" a &-a$e () t$an&"e$$ing non

,a&- a&&et& o" e<ui.alent .alue in,lu#ing 0it-out li%itation &-a$e& o$ ot-e$

&e,u$itie& in an) ,o%/an)G!

'G I" t-e &-a$e& in $e&/e,t o" 0-i,- &u,- a non,a&- #i&t$i(ution i& /ai# a$e

un,e$ti"i,ate# an) &-a$e& in t-e ,o%/an) 0-i,- a$e i&&ue# a& a non,a&- #i&t$i(ution

in $e&/e,t o" t-e% %u&t (e un,e$ti"i,ate#!

3G Fo$ t-e /u$/o&e& o" /a)ing a non,a&- #i&t$i(ution t-e #i$e,to$& %a) %a7e

0-ate.e$

a$$ange%ent& t-e) t-in7 "it in,lu#ing 0-e$e an) #i""i,ult) a$i&e& $ega$#ing t-e

#i&t$i(ution

aG "i?ing t-e .alue o" an) a&&et&

(G /a)ing ,a&- to an) #i&t$i(ution $e,i/ient on t-e (a&i& o" t-at .alue in o$#e$ to

a#@u&t t-e $ig-t& o" $e,i/ient& an#

,G .e&ting an) a&&et& in t$u&tee&!

7aiver of distributions

$$. Di&t$i(ution $e,i/ient& %a) 0ai.e t-ei$ entitle%ent to a #i.i#en# o$ ot-e$

#i&t$i(ution

/a)a(le in $e&/e,t o" a &-a$e () gi.ing t-e ,o%/an) noti,e in 0$iting to t-at e""e,t

(ut i"

aG t-e &-a$e -a& %o$e t-an one -ol#e$ o$

(G %o$e t-an one /e$&on i& entitle# to t-e &-a$e 0-et-e$ () $ea&on o" t-e #eat-

o$

(an7$u/t,) o" one o$ %o$e @oint -ol#e$& o$ ot-e$0i&et-e noti,e i& not e""e,ti.e unle&& it i& e?/$e&&e# to (e gi.en an# &igne# () all t-e



-ol#e$& o$ /e$&on& ot-e$0i&e entitle# to t-e &-a$e!

CAPITALISATION OF PROFITS

-uthority to capitalise and appropriation of capitalised sums

$%. 1G Su(@e,t to t-e a$ti,le& t-e #i$e,to$& %a) i" t-e) a$e &o aut-o$i&e# () an

o$#ina$)

$e&olution

aG #e,i#e to ,a/itali&e an) /$o"it& o" t-e ,o%/an) 0-et-e$ o$ not t-e) a$e

a.aila(le "o$ #i&t$i(utionG 0-i,- a$e not $e<ui$e# "o$ /a)ing a /$e"e$ential

#i.i#en# o$ an) &u% &tan#ing to t-e ,$e#it o" t-e ,o%/an)*& &-a$e /$e%iu%

a,,ount o$ ,a/ital $e#e%/tion $e&e$.e an#

(G a//$o/$iate an) &u% 0-i,- t-e) &o #e,i#e to ,a/itali&e a ,a/itali&e# &u%G

to t-e /e$&on& 0-o 0oul# -a.e (een entitle# to it i" it 0e$e #i&t$i(ute# () 0a) o"

#i.i#en# t-e /e$&on& entitle#G an# in t-e &a%e /$o/o$tion&!

'G Ca/itali&e# &u%& %u&t (e a//lie# aG on (e-al" o" t-e /e$&on& entitle# an#

(G in t-e &a%e /$o/o$tion& a& a #i.i#en# 0oul# -a.e (een #i&t$i(ute# to t-e%!

3G An) ,a/itali&e# &u% %a) (e a//lie# in /a)ing u/ ne0 &-a$e& o" a no%inal a%ount

e<ual to t-e ,a/itali&e# &u% 0-i,- a$e t-en allotte# ,$e#ite# a& "ull) /ai# to t-e

/e$&on& entitle# o$ a& t-e) %a) #i$e,t!

4G A ,a/itali&e# &u% 0-i,- 0a& a//$o/$iate# "$o% /$o"it& a.aila(le "o$ #i&t$i(ution

%a) (e a//lie#

aG in o$ to0a$#& /a)ing u/ an) a%ount& un/ai# on e?i&ting &-a$e& -el# () t-e

/e$&on& entitle# o$

(G in /a)ing u/ ne0 #e(entu$e& o" t-e ,o%/an) 0-i,- a$e t-en allotte# ,$e#ite#

a& "ull) /ai# to t-e /e$&on& entitle# o$ a& t-e) %a) #i$e,t!

G Su(@e,t to t-e a$ti,le& t-e #i$e,to$& %a)

aG a//l) ,a/itali&e# &u%& in a,,o$#an,e 0it- /a$ag$a/-& 3G an# 4G /a$tl) in one

0a) an# /a$tl) in anot-e$

(G %a7e &u,- a$$ange%ent& a& t-e) t-in7 "it to #eal 0it- &-a$e& o$ #e(entu$e&

(e,o%ing #i&t$i(uta(le in "$a,tion& un#e$ t-i& a$ti,le in,lu#ing t-e i&&uing o"

"$a,tional ,e$ti"i,ate& o$ t-e %a7ing o" ,a&- /a)%ent&G an#

,G aut-o$i&e an) /e$&on to ente$ into an ag$ee%ent 0it- t-e ,o%/an) on (e-al" o"

all t-e /e$&on& entitle# 0-i,- i& (in#ing on t-e% in $e&/e,t o" t-e allot%ent o"

&-a$e& an# #e(entu$e& to t-e% un#e$ t-i& a$ti,le!

PART

MISCELLANEOUS PRO=ISIONS

COMMUNICATIONS

Means of communication to be used

$'. 1G Su(@e,t to t-e a$ti,le& an)t-ing &ent o$ &u//lie# () o$ to t-e ,o%/an) un#e$

t-e a$ti,le& %a) (e &ent o$ &u//lie# in an) 0a) in 0-i,- t-e Co%/anie& A,t '::2

/$o.i#e& "o$ #o,u%ent& o$ in"o$%ation 0-i,- a$e aut-o$i&e# o$ $e<ui$e# () an)

/$o.i&ion o" t-at A,t to (e &ent o$ &u//lie# () o$ to t-e ,o%/an)!



'G Su(@e,t to t-e a$ti,le& an) noti,e o$ #o,u%ent to (e &ent o$ &u//lie# to a #i$e,to$

in

,onne,tion 0it- t-e ta7ing o" #e,i&ion& () #i$e,to$& %a) al&o (e &ent o$ &u//lie# ()

t-e %ean& () 0-i,- t-at #i$e,to$ -a& a&7e# to (e &ent o$ &u//lie# 0it- &u,- noti,e& o$

#o,u%ent& "o$ t-e ti%e (eing!

3G A #i$e,to$ %a) ag$ee 0it- t-e ,o%/an) t-at noti,e& o$ #o,u%ent& &ent to t-at#i$e,to$ in a /a$ti,ula$ 0a) a$e to (e #ee%e# to -a.e (een $e,ei.e# 0it-in a &/e,i"ie#

ti%e o" t-ei$ (eing &ent an# "o$ t-e &/e,i"ie# ti%e to (e le&& t-an 48 -ou$&!

8ailure to notify contact details

%). 1G I"

aG t-e ,o%/an) &en#& t0o ,on&e,uti.e #o,u%ent& to a %e%(e$ o.e$ a /e$io# o"

at lea&t 1' %ont-& an#

(G ea,- o" t-o&e #o,u%ent& i& $etu$ne# un#eli.e$e# o$ t-e ,o%/an) $e,ei.e&

noti"i,ation t-at it -a& not (een #eli.e$e#

t-at %e%(e$ ,ea&e& to (e entitle# to $e,ei.e noti,e& "$o% t-e ,o%/an)!'G A %e%(e$ 0-o -a& ,ea&e# to (e entitle# to $e,ei.e noti,e& "$o% t-e ,o%/an)

(e,o%e& entitle# to $e,ei.e &u,- noti,e& again () &en#ing t-e ,o%/an)

aG a ne0 a##$e&& to (e $e,o$#e# in t-e $egi&te$ o" %e%(e$& o$

(G i" t-e %e%(e$ -a& ag$ee# t-at t-e ,o%/an) &-oul# u&e a %ean& o"

,o%%uni,ation ot-e$ t-an &en#ing t-ing& to &u,- an a##$e&& t-e in"o$%ation t-at

t-e ,o%/an) nee#& to u&e t-at %ean& o" ,o%%uni,ation e""e,ti.el)!

ADMINISTRATI=E ARRAN5EMENTS

!ompany seals

%1. 1G An) ,o%%on &eal %a) onl) (e u&e# () t-e aut-o$it) o" t-e #i$e,to$&!

'G T-e #i$e,to$& %a) #e,i#e () 0-at %ean& an# in 0-at "o$% an) ,o%%on &eal o$

&e,u$itie& &eal i& to (e u&e#!

3G Unle&& ot-e$0i&e #e,i#e# () t-e #i$e,to$& i" t-e ,o%/an) -a& a ,o%%on &eal an#

it i&

a""i?e# to a #o,u%ent t-e #o,u%ent %u&t al&o (e &igne# () at lea&t one aut-o$i&e#

/e$&on in t-e /$e&en,e o" a 0itne&& 0-o atte&t& t-e &ignatu$e!

4G Fo$ t-e /u$/o&e& o" t-i& a$ti,le an aut-o$i&e# /e$&on i&

aG an) #i$e,to$ o" t-e ,o%/an)

(G t-e ,o%/an) &e,$eta$) o$ ,G an) /e$&on aut-o$i&e# () t-e #i$e,to$& "o$ t-e /u$/o&e o" &igning #o,u%ent& to

0-i,- t-e ,o%%on &eal i& a//lie#!

G I" t-e ,o%/an) -a& an o""i,ial &eal "o$ u&e a($oa# it %a) onl) (e a""i?e# to a

#o,u%ent i" it& u&e on t-at #o,u%ent o$ #o,u%ent& o" a ,la&& to 0-i,- it (elong& -a&

(een aut-o$i&e# () a #e,i&ion o" t-e #i$e,to$&!

2G I" t-e ,o%/an) -a& a &e,u$itie& &eal it %a) onl) (e a""i?e# to &e,u$itie& () t-e

,o%/an) &e,$eta$) o$ a /e$&on aut-o$i&e# to a//l) it to &e,u$itie& () t-e ,o%/an)

&e,$eta$)!

6G Fo$ t-e /u$/o&e& o" t-e a$ti,le& $e"e$en,e& to t-e &e,u$itie& &eal (eing a""i?e# to

an)

#o,u%ent in,lu#e t-e $e/$o#u,tion o" t-e i%age o" t-at &eal on o$ in a #o,u%ent ()an)



%e,-ani,al o$ ele,t$oni, %ean& 0-i,- -a& (een a//$o.e# () t-e #i$e,to$& in $elation

to t-at #o,u%ent o$ #o,u%ent& o" a ,la&& to 0-i,- it (elong&!

Destruction of documents

%2. 1G T-e ,o%/an) i& entitle# to #e&t$o) aG all in&t$u%ent& o" t$an&"e$ o" &-a$e& 0-i,- -a.e (een $egi&te$e# an# all ot-e$

#o,u%ent& on t-e (a&i& o" 0-i,- an) ent$ie& a$e %a#e in t-e $egi&te$ o" %e%(e$&

"$o% &i? )ea$& a"te$ t-e #ate o" $egi&t$ation

(G all #i.i#en# %an#ate& .a$iation& o$ ,an,ellation& o" #i.i#en# %an#ate& an#

noti"i,ation& o" ,-ange o" a##$e&& "$o% t0o )ea$& a"te$ t-e) -a.e (een $e,o$#e#

,G all &-a$e ,e$ti"i,ate& 0-i,- -a.e (een ,an,elle# "$o% one )ea$ a"te$ t-e #ate o"

t-e ,an,ellation

#G all /ai# #i.i#en# 0a$$ant& an# ,-e<ue& "$o% one )ea$ a"te$ t-e #ate o" a,tual

/a)%ent an#

eG all /$o?) noti,e& "$o% one )ea$ a"te$ t-e en# o" t-e %eeting to 0-i,- t-e

/$o?) noti,e $elate&!'G I" t-e ,o%/an) #e&t$o)& a #o,u%ent in goo# "ait- in a,,o$#an,e 0it- t-e a$ti,le&

an#

0it-out noti,e o" an) ,lai% to 0-i,- t-at #o,u%ent %a) (e $ele.ant it i& ,on,lu&i.el)

/$e&u%e# in "a.ou$ o" t-e ,o%/an) t-at

aG ent$ie& in t-e $egi&te$ /u$/o$ting to -a.e (een %a#e on t-e (a&i& o" an

in&t$u%ent o" t$an&"e$ o$ ot-e$ #o,u%ent &o #e&t$o)e# 0e$e #ul) an# /$o/e$l)

%a#e

(G an) in&t$u%ent o" t$an&"e$ &o #e&t$o)e# 0a& a .ali# an# e""e,ti.e in&t$u%ent

#ul) an# /$o/e$l) $egi&te$e#

,G an) &-a$e ,e$ti"i,ate &o #e&t$o)e# 0a& a .ali# an# e""e,ti.e ,e$ti"i,ate #ul)

an# /$o/e$l) ,an,elle# an#

#G an) ot-e$ #o,u%ent &o #e&t$o)e# 0a& a .ali# an# e""e,ti.e #o,u%ent in

a,,o$#an,e 0it- it& $e,o$#e# /a$ti,ula$& in t-e (oo7& o$ $e,o$#& o" t-e ,o%/an)!

3G T-i& a$ti,le #oe& not i%/o&e on t-e ,o%/an) an) lia(ilit) 0-i,- it 0oul# not

ot-e$0i&e -a.e i" it #e&t$o)& an) #o,u%ent (e"o$e t-e ti%e at 0-i,- t-i& a$ti,le

/e$%it& it to #o &o!

4G In t-i& a$ti,le $e"e$en,e& to t-e #e&t$u,tion o" an) #o,u%ent in,lu#e a $e"e$en,e to

it& (eing #i&/o&e# o" in an) %anne$!

o right to inspect accounts and other records

%3. E?,e/t a& /$o.i#e# () la0 o$ aut-o$i&e# () t-e #i$e,to$& o$ an o$#ina$) $e&olution

o" t-e ,o%/an) no /e$&on i& entitle# to in&/e,t an) o" t-e ,o%/an)*& a,,ounting o$

ot-e$ $e,o$#& o$ #o,u%ent& %e$el) () .i$tue o" (eing a %e%(e$!

&rovision for employees on cessation of business

%4. T-e #i$e,to$& %a) #e,i#e to %a7e /$o.i&ion "o$ t-e (ene"it o" /e$&on& e%/lo)e#

o$ "o$%e$l) e%/lo)e# () t-e ,o%/an) o$ an) o" it& &u(&i#ia$ie& ot-e$ t-an a #i$e,to$

o$ "o$%e$ #i$e,to$ o$ &-a#o0 #i$e,to$G in ,onne,tion 0it- t-e ,e&&ation o$ t$an&"e$ to

an) /e$&on o" t-e 0-ole o$ /a$t o" t-e un#e$ta7ing o" t-e ,o%/an) o$ t-at &u(&i#ia$)!

DIRECTORS* INDEMNIT AND INSURANCE



9ndemnity

%. 1G Su(@e,t to /a$ag$a/- 'G a $ele.ant #i$e,to$ o" t-e ,o%/an) o$ an a&&o,iate#

,o%/an) %a) (e in#e%ni"ie# out o" t-e ,o%/an)*& a&&et& again&t

aG an) lia(ilit) in,u$$e# () t-at #i$e,to$ in ,onne,tion 0it- an) negligen,e#e"ault ($ea,- o" #ut) o$ ($ea,- o" t$u&t in $elation to t-e ,o%/an) o$ an

a&&o,iate# ,o%/an)

(G an) lia(ilit) in,u$$e# () t-at #i$e,to$ in ,onne,tion 0it- t-e a,ti.itie& o" t-e

,o%/an) o$ an a&&o,iate# ,o%/an) in it& ,a/a,it) a& a t$u&tee o" an o,,u/ational

/en&ion &,-e%e a& #e"ine# in &e,tion '32G o" t-e Co%/anie& A,t '::2G

,G an) ot-e$ lia(ilit) in,u$$e# () t-at #i$e,to$ a& an o""i,e$ o" t-e ,o%/an) o$ an

a&&o,iate# ,o%/an)!

'G T-i& a$ti,le #oe& not aut-o$i&e an) in#e%nit) 0-i,- 0oul# (e /$o-i(ite# o$

$en#e$e# .oi# () an) /$o.i&ion o" t-e Co%/anie& A,t& o$ () an) ot-e$ /$o.i&ion o"

la0!

3G In t-i& a$ti,le aG ,o%/anie& a$e a&&o,iate# i" one i& a &u(&i#ia$) o" t-e ot-e$ o$ (ot- a$e

&u(&i#ia$ie& o" t-e &a%e (o#) ,o$/o$ate an#

(G a $ele.ant #i$e,to$ %ean& an) #i$e,to$ o$ "o$%e$ #i$e,to$ o" t-e ,o%/an) o$

an

a&&o,iate# ,o%/an)!

9nsurance

%". 1G T-e #i$e,to$& %a) #e,i#e to /u$,-a&e an# %aintain in&u$an,e at t-e e?/en&e

o" t-e ,o%/an) "o$ t-e (ene"it o" an) $ele.ant #i$e,to$ in $e&/e,t o" an) $ele.ant lo&&!

'G In t-i& a$ti,le

aG a $ele.ant #i$e,to$ %ean& an) #i$e,to$ o$ "o$%e$ #i$e,to$ o" t-e ,o%/an) o$

an

a&&o,iate# ,o%/an)

(G a $ele.ant lo&& %ean& an) lo&& o$ lia(ilit) 0-i,- -a& (een o$ %a) (e

in,u$$e# () a $ele.ant #i$e,to$ in ,onne,tion 0it- t-at #i$e,to$*& #utie& o$ /o0e$&

in $elation to t-e ,o%/an) an) a&&o,iate# ,o%/an) o$ an) /en&ion "un# o$

e%/lo)ee&* &-a$e &,-e%e o" t-e ,o%/an) o$ a&&o,iate# ,o%/an) an#

,G ,o%/anie& a$e a&&o,iate# i" one i& a &u(&i#ia$) o" t-e ot-e$ o$ (ot- a$e

&u(&i#ia$ie& o" t-e &a%e (o#) ,o$/o$ate!

model articles for public companies1

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