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\qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13054499 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 COOK ISLANDS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13054499 {\b\caps\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 International Companies Amendment}{\b\caps\fs24\lang2057\langfe1033\langnp2057\insrsid5843783 
 1989}{\b\caps\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
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\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ANALYSIS
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Title}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 
\par 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 1. Short Title and commencement
\par 2. Interpretation
\par 3. Registrar of Companies
\par 4. Registers
\par 5. Registration and Incorporation
\par 6. Powers of companies
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 7. Pre}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 -incorporation contracts
\par 8. Names of companies
\par 9. Transactions and branches
\par 10. Prohibition against carrying on business with no members
\par 11. Premiums received on issue of shares to be share capital and limitations on application thereof
\par 12. Currency of shares
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 13. Cancellation of re}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 -acquired shares by an international company
\par 14. Distribution from capital surplus of international company
\par 15. Secretary
\par 16. Calling of meetings
\par 17. Special resolutions
\par 18. Inspection and closing of Register
\par 19. Annual return
\par 20. Accounts to be kept
\par 21. Auditor need not be appointed in certain circumstances
\par 22. Inspection
\par 23. Payment of certain debts out of assets subject to floating charges to claims under charge
\par 24. Circumstances in which company m}{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 ay be wound}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 -up voluntarily
\par 25.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  Declaration of solvency}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par 26.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  Foreign companies}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par 27.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  Dividends payable from profits only}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par 28.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  Use of word "corporation" etc}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par 29.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  Indemnity}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par 30.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  Application of other Acts to international companies}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par 31.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  Articles}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par 32.}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  Share expressed in other currencies}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid15608043 -------------------------------------------}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13054499 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 1989, No. 22
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15608043 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 An Act}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 to }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 amend }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  International Companies Act 1981-82
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 (8 September 1989
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 BE IT ENACTED}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  by}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 the }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 Parliament }{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 of the Cook Islands in}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Session assembled,}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 and by the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 authority of the same, as }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 follows:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 1. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Short Title and commencement}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  (1) This Act may be cited as the International Companies Amendment Act 1989 and shall be read together with and deemed part of the International Companies Act 1981}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 8}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
2 (herein referred to as "the principal Act").
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (2) Sections 6, 9, 11, 16, 17, 21, 26 and 27 of this Act shall be deemed to have come into force on the same day as the principal Act came into force.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 2. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Interpretation}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 2 of the}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 principal
 Act is amended by repealing the definition of "Resident secretary" and substituting the following new definition}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"Resident Secretary" means a trustee company or officer of a trustee company appointed to be such under section 90.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 3. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Registrar of Companies}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 8 of the principal Act is amended by repealing subsection (5) and substituting the following new subsection}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"(5) Any person appointed under the terms of subsection (1) who except for the purposes of this Act or except in the course of crim
inal proceedings makes a record of, divulges or communicates to any other person any information which he possesses or has acquired:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) by reason of his carrying out the duties and functions of his office or;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(b) by reason of access afforded or obtained by him to any document or register kept by the Registrar or book minute book register or record kept by any company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 shall be guilty of an offence against this Act and shall be liable on conviction to a fine no
t exceeding $10,000.00 or to a term of imprisonment not exceeding two years in respect of each such offence."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 9. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Registers}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 12 of the principal Act is amended by adding after the existing subsection (7) the following new subsection}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "(8) Any pe
rson who inspects, copies or permits to be inspected or copied any document filed or kept by the Registrar in respect of any company otherwise than as entitled or authorised in terms of subsection (2) (or, in the case of the Registrar and officers appoint
e
d pursuant to section 8, otherwise than for the purposes of this Act) shall be guilty of an offence against this Act and shall be liable on conviction to a fine not exceeding $10,000 or to a term of imprisonment not exceeding 2 years in respect of each su
ch offence."
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\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 5. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Registration and Incorporation}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}
{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 19 of the principal Act is amended by repealing subsection (6) and substituting the following new subsection}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "Any direct}{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 or or officer}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
of an international company who after the expiry of the certificate of incorporation of that company and before the issue of a current certificate of incorporation of that company does any act that causes that company to}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 c}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 rry}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 on}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 busines}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 s}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 after}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 expiry}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 its certificate of incor}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 poration and before the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  issue of a current certificate}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 of incorporation shall be guilty of an offence against this Act and shall be liable upon conv}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 iction to a fine not exceeding $}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 10}{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 000.00}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 ".}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par 6}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Powers of }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 companies}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  - }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Section 20 
of the principal Act is repealed and the following section substituted}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 "20. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 Powers of compani}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 es}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 (1) The powers of an international company shall include, unless expressly excluded or m}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 odified by the memorandum or th}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
e articles, the powers set forth in Schedule 1 and such other powers as are set out in its memorandum or articles or granted to it generally or specially by regulations made under this Act.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 (2}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
) Without limiting the generality of subsection (1) an international company in excluding or modifying the}{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043  powers s}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 et forth in Schedule I}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  may provide that the company has the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
powers of a natural person (as if that person were a body corporate) and, without limiting the generality of the foregoing, has power to}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) Issue and allot fully or partly paid shares in the company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 (b) Issue de}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ben}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 tures of the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (c) Distribute any of the property of the company among the members, in kind or otherwise;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (d) Give security by charging uncalled capital;}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (e) Grant a floating charge on the undertaking or property of the company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(f) Procure the company to be registered or recognised as a body corporate in any place outside the Cook Islands}{\fs24\lang2057\langfe1033\langnp2057\insrsid16150548\charrsid15608043 ;}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (g) Make provision in connection with the cessation of the whole or a part of the
 business of the company, or of any subsidiary of the company, for the benefit of any subsidiary of the company, for the benefit of employees or former employees of the compan}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
y or of a subsidiary of th}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 e company or for the dependants of such employees or former employees; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(h) Do any other act that it is authorised to do by any other enactment or rule of law in the Cook Islands or (except where such act is expressly prohibited by any act}{\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043 ,}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  regulation}{\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  by}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 law or rule of the Cook Islands having application to international companies) elsewhere.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(3) The powers of an international company shall subject to the terms of the memorandum and articles be}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043  ex}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
ercisable in the Cook Islands and elsewhere.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (4)}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 The}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 powers o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 f}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 an}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 international}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 company}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 may}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 be exercised whether or not s}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 uch }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 exercise}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (i)}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 may advance its business;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (ii)}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 is in the best or }{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 commercial interests o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
f the company;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (iii) may adv}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 a}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 nc}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 e o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 r assi}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 st the business of some other pe}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 rso}{\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
n at the ex}{\fs24\lang2057\langfe1033\langnp2057\insrsid7348741\charrsid15608043 pense or to the detriment of the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 company.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3625152\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (5)}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Any}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 international compan}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 y}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 may }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 restrict}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 its}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 powers by making express pr}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
ovision for the}{\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043  period during which tho}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 se powers}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 may}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 be}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 exercised}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 or}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 during}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 w}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 hi}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ch}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 it}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 may}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 carry}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 on business. In any such case}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043  unl}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ess}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 (a) The memorandum of}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 the articles otherwise provide; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) The winding up of the com}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 pany has previously been commenced or deemed to have been}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 commenced in accordance with the provisions of Part IX, then}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
upon the date or upon the happening of the event or termination of the period t}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  which th}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 e}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 period of exercise of the powers is so restricted the directors shall immediately take all steps as may be necessary to effect the windin}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 g up of that company in accordan}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ce }{\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043 with the provisions of Par}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 t IX o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 f the Act.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15608043 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 7. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Pre}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 incorporation contracts}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 The principal Act is amended by adding after the existing section 20 (as substituted by section 3}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043  of }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
this Act) the following new section}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "21A.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Pre}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 -incorporation }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 contracts}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 \endash  (1) T}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 his}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 section applies to}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) Any contract purporting to be m
ade by an international company before its incorporation; and to
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) Any contract made by a person on behalf of an international }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 company before and in contem}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 plation of its incorporation.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (2) Notwithstanding any enactment or rule of law, any contract to w
hich this section applies may be ratified within such period as may be specified}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 in}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 contract,}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 or}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 if}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043 n}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 o}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 period}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
is specified, then within a reasonable time after the incorporation }{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
f the company in the name of which, or on behalf of which, it has been m}{\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043 ade. A contract so ratified shall}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
, upon ratification, be valid}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043  and enforceable as }{\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043 if }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the company had been a party to the contract whe}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 re }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 it was made.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 (3) For the purposes o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
f this section, a contract to which this section applies may be ratified by a company in the same manner as a contract may be made by a company under section 29 of this Act, and the provisions of section 29 of this Act shall have effect as if references i
n that section to making a contract were references to ratifying a contract.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7348741 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (4) Notwithstanding a}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
ny enactment or }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 rule of law, in a contract to which this section applies, unless a contrary intention is expressed in the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9903763\charrsid15608043 c}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ontract, there is an implied warranty by th}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 t person who purports to make the }{\field\fldedit{\*\fldinst {
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  HYPERLINK http://contract.in }{\fs24\lang2057\langfe1033\langnp2057\insrsid10435813\charrsid15608043 {\*\datafield 
00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b2800000068007400740070003a002f002f0063006f006e00740072006100630074002e0069006e002f00000000000000}}}{\fldrslt {
\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 contract}{\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  in}}}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043  the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 name of, or on behalf of, the company}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(a) That the company will be incorporated within such period as may be specified in the contract, or if no period specified, then within a reasonable time after the making of the contract; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) That the company will ratify the contract within such period as may be sp}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 ecified in the contract, or if }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 no period is}{\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
 }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 specified, then within a reasonable time after the incorporation of the company.}{\fs24\lang2057\langfe1033\langnp2057\insrsid7895555\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid7895555\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (5) The amount of any damages recoverable in an action for breach of warranty implied in any}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043  such contract shall be the same as the amount }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of damages that would be recoverab}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 le in an action against the com}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
pany for damages for breach by the company of the unperformed obligations under the contract as if the contract had been ratified and cancelled.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(6) Where a company after its incorporation does not ratify a contract to which this section applies, any part
y to that contract may apply to the Court for an order directing the company to return any property, whether real or personal, acquired pursuant to the contract to that party, or for any other relief in favour of that party respecting any such property, a
nd the Court may, if it considers it just and equitable to do so, make any order or grant such relief as it thinks fit and whether or not an order has been made under subsection (5) of this section.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (7) In any proceedings against a company for breach of a 
contract to which this section applies and which has been ratified by the company, the Court may, on the application of the company, any other party to the proceedings, or of its own motion, make such order for the payment of damages or other relief, in a
ddition to or in substitution for any order which may be made against the company, against any person by whom that contract was made in the name of, or on behalf of the company, as the Court considers just and equitable.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (8) Where a company, after its inco
rporation, enters into a contract in the same terms as, or in substitution for, a contract to which this section applies (not being a contract ratified by the company under this section),}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the liability of any person under subsection (4) of this section (in
cluding any liability under an order made by the Court thereunder for the payment of damages) shall be discharged.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4354106\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(9) Subsections (2) and (3) of this section shall apply to a contract to which this section applies entered into before the commencement of this section.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (10) In this section}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "contract" means any legally binding transaction.}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15608043 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 8. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Names of companies}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Subsections (2) and (3) of section 22 of the principal Act are repealed and the following subsections substituted}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "(2) An international co
mpany shall have as part of, and at the end of, its name such words or abbreviations as are prescribed by regulations and until regulations relating to the names of international companies have been made an international company shall have as a part of, a
nd at the end of its name either}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) the word "Corporation" or the abbreviation "Corp.}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15814487\charrsid15608043 ";}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) the word "Incorpo}{\fs24\lang2057\langfe1033\langnp2057\insrsid15814487\charrsid15608043 
rated" or the abbreviation "Inc.";}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (c) the word}{\fs24\lang2057\langfe1033\langnp2057\insrsid15814487\charrsid15608043 
 "Limited" or the abbreviation "}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Ltd.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15814487\charrsid15608043 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (3) No description of an internationa
l company shall be deemed inadequate or incorrect by reason of the use of}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(a) any word which being prescribed either by subsection (2) or by regulations is used in lieu of its prescribed abbreviation;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) any abbreviation which 
being prescribes either by subsection (2) or by regulations is used in lieu of that word in its prescribed unabbreviated form; or
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(c) the symbol "&" in lieu of the word "and" contained in the name of the company or the word "and" in lieu of the symbol "&" in the name of the company."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 9.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Transactions and branches}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 Section 29 of the principal Act is amended by repealing subsection (}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 3) and sub}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
stituting the following new subsection}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "(3) An international company may by writing under its common seal, empowe
r any person, either generally or in respect of any specified matters, as its agent or attorney to execute instruments on its behalf and any instrument executed by such an agent or attorney on behalf of the company, if executed as a deed, shall have the s
ame effect as if it were under the common seal, or, subject to subsection (5) under the appropriate seal of the company. The provisions of this subsection shall not preclude the company constituting a person as its agent or attorney in any other manner."

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par 1}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 0. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Prohibition against carrying on business with no members}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 Section 30 of the principal Act is amended by omitting the words "section 57(12)" and substituting the words "section 57(3)". This amendment shall be deemed to have come into force on 15 April 1987.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 11. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Premiums received on issue of shares to be sha}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 re }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 capital and limitations on application thereof}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 40 of the principal Act is amended}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) by }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 omitting}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  from subsection (}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 1}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
) the words "premiums on those shares shall" and substituting the words "premiums }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 n those shares may"}{
\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 ;}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 (}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 b) by omitting from subs}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 e}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ct}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 ion (2)}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the words "assets so acquired shall" and substituting the words "assets so acquired may".
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par 12. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 Currency}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  of Shares}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 43 of the principal Ac}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 t}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
, is amended}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043  by omitting from subsection (1) }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the words "prescribed by the regulations".
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 13. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Cancellation of re}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 acquired shares by an international company}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 47 of the principal Act is amended b}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 y}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  adding after the words "in accordance with the regulations." the words "If an international company having re}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 acquired its }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 shares does not cancel those shares it shall enter in }{
\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 appropriate register its own}{\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 
 name as the transferee of tho}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 se}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  shares and shall thereupon be}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043  deemed for all purposes }{\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 (}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 other }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 than}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043  for the purposes of section 30) to be a member of }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the company."
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 14.}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
Distribution from capital surplus of international }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 co}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 mpany}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Sect}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 ion 48 of the principal Act is }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 repealed.}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 15. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Secretary}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 90 of the }{\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 principal Act is }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
amended}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) by repealing subsection (1) and }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 substituting the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 following new subsection:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "(1) When requested }{\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 
in writing by an }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 international company }{\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 to make available a }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 resident secretary a}{\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043  trustee}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 company shall }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 either accept appointment }{\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 
as resident secretary }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of that company or }{\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 make available for }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 appointment an officer of }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 the trustee company}{
\fs24\lang2057\langfe1033\langnp2057\insrsid14310307\charrsid15608043 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 .
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) by amending subsection (2) }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 by adding after the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 w}{\fs24\lang2057\langfe1033\langnp2057\insrsid7895555\charrsid15608043 
ords "other than" the words "}{\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 a trustee company or";}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (c) by amending subsection (6) by}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043  omitting the words}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  "The resident secretary" and }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 substituting the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 words "An officer of a trustee }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 company appointed }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 pursuant to subsection (1)".
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (d) by repealing subsection (8) and }{
\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 substituting the }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 following new subsection}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 
 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(8) The remuneration of a resident secretary of an international company shall be fixed by agreement between the company and the trustee company which is, }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 r has provided the officer who is, the resident }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 secretary. T}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 hat remunera}{\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 tion shall be paid in the Cook I}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 slands in such manner and at such time as shall be agreed between the}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043  tru}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 stee company and the compan}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 y and such remuneration shall be }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 a charge upon the assets of the compa}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 ny ranking in priority next after }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the fees owing b}{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 y the company to the Registrar."}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 16.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 C}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 allin}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 g }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Meetin}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 g}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 s}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  - }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Section}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 94}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 principal}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Act is amended by adding after subsection (5) the following new subsection:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid9120820\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"(6) Anything that may be done by an international company by resolution or special resolution passed at a meeting of that company may, subject to any 
special provisions in that behalf in the articles of the company be done without a meeting and without any previous notice of the resolution being required, by means of a resolution in writing signed}{
\fs24\lang2057\langfe1033\langnp2057\insrsid3033901\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3033901\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) in the case of an international company which has
 made an allotment of its shares offered to the public, by all such members as are entitled to vote thereon;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3033901\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) in a}{\fs24\lang2057\langfe1033\langnp2057\insrsid3033901\charrsid15608043 
ny other case, by not less than three fourths of such memb}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ers as are entitled to vote thereon;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3033901\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 and such resolution shall be}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 deemed as valid as if passed at a meeting duly held in accordance with the Act and with the Articles of that company. Any such resolution may be c}{\fs24\lang2057\langfe1033\langnp2057\insrsid3033901\charrsid15608043 ontained in the one instrument o}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 r in several instruments in like form."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid3033901\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 17. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Special resolut}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 ion}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 99 of the principal Act is amended}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) by repealing subsection (1) and substituting the following subsection:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 "(1}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ) A resolution }{
\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 shall }{\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 b}{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 e a special resolutio}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
n when it is passed by such of the members having the right to vote (either in person or where proxies are allowed by proxy) as together hold in aggregate not less than 75 per centum of the total votes of the members present (either in person or by proxy)
 and entitled to vote on that res}{\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 olution at a meeting of which no}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 t less than 21 days notice specifying the in}{
\fs24\lang2057\langfe1033\langnp2057\insrsid4851130\charrsid15608043 tention}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  to propose the resolution as a special resolution has been duly given."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) by repealing subsection (7).
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par 18.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Inspection and }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 Closing of Reg
ister}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  - }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Section 1}{\fs24\lang2057\langfe1033\langnp2057\insrsid1376500\charrsid15608043 0}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 7 of the principal Act is amended}{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) by repealing subsection (2) and substituting the following new subsection}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"(2) The register shall be open to the inspection of any member for the purposes of inspection of the particulars of that member and of that member's shareholding contained therein but no member shall be entitled to inspect the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid1376500\charrsid15608043 p}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 rticulars of}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  an}{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 y other member or of the shareholding o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
f that other member without the consent in writing of that other member first had and obtained. Any inspection by a }{\fs24\lang2057\langfe1033\langnp2057\insrsid15608043 member shall be without charge."}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(b) by omitting from subsection (2) the words "Any member" and substituting the words "Subject to the provisions of subsection (2) any member".
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par 19. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 Annual return}{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043  - }{\fs24\lang2057\langfe1033\langnp2057\insrsid1376500\charrsid15608043 S}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ection 112 of the principal Act is amended by adding after subsection}{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043  (6) the following new subsection -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"(6A) Where in any case the Registrar is satisfied that it is not practical (having regard to the accountin}{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 g period of an international comp}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 any) for an intern}{\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 ational company to comply with the }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 provisions of subsection (5) or (6) at the time of filing an annual return he may on the application of that company order that the time for compliance}{
\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043  with those provisions be }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 extended and pending comp
liance accept the annual return and the prescribed fee payable therefor without the accompanying certificates required by that subsection."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid5991606\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 20. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Accounts to be kept}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 113 of the principal Act is amend}{\fs24\lang2057\langfe1033\langnp2057\insrsid15733717\charrsid15608043 ed by adding after subsection (4}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ) the following new subsection:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1865041\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7895555 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"(5) Notwithstanding the provisions of subsection (2) an international company may with the prior written approval of the Registrar keep its accounts at such pla}{\fs24\lang2057\langfe1033\langnp2057\insrsid3633996\charrsid15608043 ce outside the Cook I}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 slands as its directors think fit. Any approval of the Registrar may be given (subject to the terms of any regulations governing the keepin}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1865041\charrsid15608043 g of accounts outside the Cook I}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 slands) upon such terms and conditions as may from time to time imposed by him."

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid1865041\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 21. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Auditor need not be appointed in certain circumstances}{
\fs24\lang2057\langfe1033\langnp2057\insrsid1865041\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 Section 117 of the principal Act is amended by adding after the words "should not be made." the following words "In the case of the appointment of an auditor in respect of the first audit period of any company it shall be sufficient for the resolution to
 be made at the first annual general meeting of that company."
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1865041\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 22. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Inspection}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  The principal Act is amended by adding after section 126 the following new section}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid1865041\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "126A. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Investigation}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  (1) An international company may provide in its memorandum to have 
its affairs and the affairs of its subsidiaries subject to investigation in accordance with the regulations prescribed pursuant to subsection (4).
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid1865041\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(2) Any such provision by a company in its memorandum made pursuant to this section shall be irrevocable and incapable of alteration or repeal except as may be permitted by the Minister.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid1865041\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(3) No company other than an international company subject to this section may be the subject of any such investigation; save that any such investigation may extend to the subsidiaries of any such company subject to this section.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 (4}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
) Regulations may be made establishing a regime for the investigation of the affairs of any company (and its subsidiaries) at the request of certain persons and such regulations may allow for:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) the appointment and empowering of inspectors by the Registrar to conduct such investigations;

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(b) the nature of the affairs of such companies to be investigated (including dealings by directors, s}{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 hareholders and other persons);
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (c) the special obligations of record keeping by companies pursuant to this section;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (d) the search and seizure of records, information and documents;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (e) the production of documents evidence and information;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (f) the publication and production of reports by inspectors;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (g) the expenses of any such investigation;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(h) the extent of cooperation with foreign regulatory authorities and other governments (including allowing the Registrar to enter into treaties or letters of understanding with such persons as he sees fit);
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (i) the production of information by certain persons;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(j) such restraints as may be necessary to ensure civil liberties and the maintenance of confidentiality in the jurisdiction;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (k) prescribing penalties for the breach of such regulations;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid15608043 (l}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ) such ot
her matters as may be considered necessary to give full effect to any}{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 investigation or to this section."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par 23. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 Payment of certain }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 debts}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
 out }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 assets}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11153440\charrsid15608043 subj}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ect}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 to floating charges}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 in priority to claims under charge}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 138 of the principal Act is amended by adding after the words}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"in the course of winding up" the words "and if the appointment or taking possession affects all or substantially all of the assets of the company (whether alone or in conjunction with any fixed charge he}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 ld by those debenture holders)."}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 24.}{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043  C}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 ircumstances in which company }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 may be wound}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 up voluntarily}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 (1) Subsection (1) of section 169 of the principal Act is amended}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(a) by adding after the words "An international company" the words "which is able to pay or provide for the payment of its debts in full or}{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 if not in full to the satisfaction of its creditors,"}{\fs24\lang2057\langfe1033\langnp2057\insrsid11153440\charrsid15608043 ;}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 (b}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
) by omitting the words "if the holders of more than 50 per centum in number or par value of the issued shares, wh
ether bearer shares or registered shares and whether held by the company itself or not, lodge with the Registrar in the prescribed manner notice of their request that the company be wound up voluntarily" and substituting the words "if the company has by s
pecial resolution resolved that it be wound up voluntarily and has lodged notice thereof with the Registrar."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (2) Subsection (2) of section 169 of the principal Act is amended by omitting the words "the notice of the request of the holders of more than 50 
per centum in number or par value of the issued shares of an international company" and substituting the words "the notice of the resolution for the winding}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 up of the company."
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 25.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Declaration of solvency}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  - }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Section 170 of the principal Act is amended}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) by omitting }{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
from subsection (1) the words "}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 or the notice under section 169 is lodged."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) by repealing subsection (3) and substituting the}{
\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043  following subsection: -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
"(3) A declaration in relation to an international company so made shall have no effect for the purposes of this Act unless it is -
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid11153440 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) made within 5 w}{\fs24\lang2057\langfe1033\langnp2057\insrsid11697772\charrsid15608043 
eeks immediately preceding}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  the passing of the resolution for voluntary winding up; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid11153440 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) lodged with 
the Registrar before the date on which the resolution for the winding up of the company is passed.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15608043 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 26.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Foreign companies}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 Section}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  200 of the principal Act is amended by adding after paragraph (b) of subsection (3) the following new paragraph}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 
 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "(c) ent
ers into transactions or dealings with one or more international companies or foreign companies of a nature which do not entail the physical establishment of a place of business in the Cook Islands".
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 27. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Dividends payable from profits on}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid1668144\charrsid15608043 ly}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 217 o
f the principal Act is repealed and the following section substituted}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "217.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 Capital }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Maintenance}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  - }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (1)}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Except}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 insofar}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 as this section otherwise provides a}{\fs24\lang2057\langfe1033\langnp2057\insrsid1668144\charrsid15608043 n}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
y capital return effected by any international company shall be a valid act of that company and shall be binding and enforceable}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 against it if at the time of effecting the capital return its directors have a reasonable belief that neither the effecting of 
that capital return nor (in the case of any capital return the performance of which is deferred}{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 ) its performance will result i}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 n the company being incapable of meeting its existing obligations to its existing creditors as they fall due.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (2) Any capital ret
urn, if it has the effect of returning assets to some but not all of the shareholders of the company (or to some but not all of the holders of any class of shares in the company) shall except insofar as }{\field\fldedit{\*\fldinst {
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  HYPERLINK http://it.is }{\fs24\lang2057\langfe1033\langnp2057\insrsid10435813\charrsid15608043 {\*\datafield 
00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b1c00000068007400740070003a002f002f00690074002e00690073002f00000000000000}}}{\fldrslt {\cs15\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 it is}}}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  effected in accordan
ce with the rights of the members as stated or provided for in the articles of the company, be deemed to be a variation of those rights to which the shareholders may object and the provisions of section 55 shall apply }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 mutatis mutandis}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  to such deemed variat
ion. To facilitate the lodging of applications pursuant to section 55(1) the company shall serve a copy of the return notice on every shareholder and any application under section 55 shall be lodged within 28 days after the date on which that notice was s
erved or such further time as the Registrar allows.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(3) Where any capital return is effected otherwise than in accordance with the provisions of subsection (1) that capital return shall be void against a liquidator and any creditor of the company.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4661563 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (4) Where an international company effects a capital. return there shall be lodged with t}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15359101\charrsid15608043 he Registrar for filing within 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
2 days of its having effected the capital return a return notice and if this section is not complied with in relation to the lodging of the re
turn notice the capital return insofar as it effects a return of the capital of the company to any shareholder shall be void against any creditor of the company where:
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 (}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
a) that creditor can demonstrate that it has searched the register of the company and acted to its detriment in reliance on the particulars of the paid up capital of the company; and
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(b) the register contains no other document which might reasonably be supposed to have given notice of the fact that the assets of the company had been returned to or committed for return to any shareholder;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
nd such capital shall be paid b}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
y that shareholder (and if more than one by each pro rata) to the Registrar to such extent as shall be required to settle the liability of the company to that creditor and
 the Registrar shall forthwith pay that creditor notwithstanding the liquidation or insolvency of that company.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(5) Any capital return effected by an international company unable to pay its debts as they become due from its own money, if the company is wo
und up on a petition presented or of a notice lodged under section 169 (1) within 3 months after its effecting the capital return shall be deemed fraudulent and void as against the liquidator of the company.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (6) Nothing in this section shall invalidate an
y transaction arrangement or dealing entered into and performed in accordance with the provisions of sections }{\fs24\lang2057\langfe1033\langnp2057\insrsid15359101\charrsid15608043 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
0, 48, }{\fs24\lang2057\langfe1033\langnp2057\insrsid15359101\charrsid15608043 4}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
9, 50 or 51 nor any redemption of redeemable shares where the provisions of section 44 have been complied with nor any arrangement whereb
y at the time of subscription or purchase of shares assets are set aside in order to defease a future capital liability.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid7683584\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(7) Nothing in this section shall invalidate any transaction arrangement or dealing entered into or performed by a company for the pur
poses or in connection with the purchase or subscription of its shares notwithstanding that the transaction arrangement or dealing has or may have the consequence directly or otherwise of returning to its shareholders (or to any of them) a portion of its 
assets.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(8) Nothing in this section shall restrict the payment of dividends to any shareholder of an international company out of profits (including capital profits).
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (9) In this section,}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "Capital Return" means,}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -
}{\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) any transaction dealing or arran
gement which has or may have the consequence directly or otherwise or returning to the shareholders of an international company (or to any of them) a portion of its assets without effecting a reduction of its share capit}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15359101\charrsid15608043 al in accordance with section 54;}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) any dividend paid by an international company otherwise than out of prof}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15359101\charrsid15608043 its (including capital profits);}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(c) any sum of money, bonus issue, asset or property in specie of an international company paid distributed or allocated, otherwise than out of profits (including capital profits), to a shareholder in respect of that shareholder's shares;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(d) any gift donation or wager made by an international company to or with its shareholders (or to or with any of them) and a capital return shall be deemed to be 
effected upon the passing of the directors' resolution to effect that capital return notwithstanding that performance thereof may be deferred.
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7554848 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "Assets" includes all the assets of a company except its profits (including capital profits);

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "Existing creditor" means
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid15359101 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(a) any person in favour of whom at the time the capital return was effected a charge was registered against the international company under Part IV of the Act;
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid15359101 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
(b) any person engaged in trade commercial to whom the international company in the ordinary course of its business owes any debt or similar obligation but does not include any person who may become a creditor after the effecting of the capital return.

\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "Return notice" m}{\fs24\lang2057\langfe1033\langnp2057\insrsid8407860\charrsid15608043 e}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
ans a statutory declaration made by a director of the company and stating with reasonable accuracy the amounts by which the issued capital of the company has been or may be reduced as a result of the capital return."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 28. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Use of word "corporation", etc}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -
}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section 218 of the principal Act is repealed and the following section substituted:
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 "218. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
Use of word "Corporation" etc}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
 Any person who carries on business under any name or title of which any word or abbreviation prescribed by section 32 or by regulation is}{\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
the final word unless it is an international company incorporated or foreign company registered under this Act (or a domestic company or an overseas company registered under the Companies Act 1970}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 71) shall be guilty of an offence against this Act".
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid4199147\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 29. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 I}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 nde}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 m}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 nity}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  The }{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 principal Act is ame}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
nded by adding after section}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043  226 the following new section -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid15608043 "}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 226A. }{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 Enforcement of I}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 nd}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 e}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 mnity}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043  Where an internat}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 iona}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 l}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 company}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 provides}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 in}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 its}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 memorandum}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 or articles that any dir}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 e}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ctor,}{\fs24\lang2057\langfe1033\langnp2057\insrsid8407860\charrsid15608043  se}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
cretary or other officer or servant shall have a }{\fs24\lang2057\langfe1033\langnp2057\insrsid8407860\charrsid15608043 r}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ight of indemnity in}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 respect}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 costs}{
\fs24\lang2057\langfe1033\langnp2057\insrsid8407860\charrsid15608043 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 ch}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 arges}{\fs24\lang2057\langfe1033\langnp2057\insrsid8407860\charrsid15608043 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 losses}{\fs24\lang2057\langfe1033\langnp2057\insrsid8407860\charrsid15608043 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 dam}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ages}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 or expenses incurred that indemnity (if otherwise enforceable) may be sued upon by any pe}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
rson to whom that indemnity is e}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 xpressed as extending
 notwithstanding that such person may not be a signatory to the memorandum or articles (as the case may be) and shall be as binding and enforceabl}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 e as if contained in a deed exe}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 cuted b}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 y the company for the benefit o}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
f that person."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 30.}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Application of other Acts}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 to}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  international}{
\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 companies}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043 -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Section}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043  249 of the principal Act is am}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ended by repealing subsection (4) (as substituted by section 3 of th}{\fs24\lang2057\langfe1033\langnp2057\insrsid2238303\charrsid15608043 e I}{
\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 nternational Companies Amendm}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 ent Act 1988) and substituting the following new subsection}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13054499 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"(4) Except where onshore business is transacted by way of an isolated transaction that is completed within a period of 31 days, (not being one of a number of similar transactions repeated more than once) subsection (2) shall not apply to a foreign compan
y which transacts onshore business (as defined in section 249A) in}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043  its transaction of that onshore }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
business whether it be by way of isolated transaction or of a continuing nature."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 31. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Articles}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  Table A of Schedule 2 of the principal Act is amended}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (a) by omitting from Article 75 the words "A resolution" and substituting the following words}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"A resolution or special resolution may be in writing passed in accordance with the provisions of section 94(6) of the Act and any resolution".
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (b) by omitting from Article 105 the words "shall" and substituting the word "may".
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 (c) by repealing Article 125 and substituting the following article}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
"125. The Directors, Secretary and other officers or servants for the time being of the company, for
 the time being acting in relation to any of the affairs of the company and each of them, and each of their heirs, administrators and executors, shall be indemnified and secured harmless out of the assets and profits of the company from and against all ac
tions, costs, charges, losses, damages and expenses, which they or any of}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043  t}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 hem,}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 their}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 or}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 any}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 their}{\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
heirs, administrators or executors shall or may incur or sustain by reason of any contract entered into or any act done, concurred in, or omitted in or about the execution of their duty or supposed duty in their respective offices or trusts, except such (
i
f any) as they shall incur or sustain by or through their own wilful act, neglect or default respectively, and the amount for which such indemnity is provided shall immediately attach as a lien on the property of the company and have priority as against t
h
e members over all other claims. None of the foregoing shall be answerable for the acts, neglects, or defaults of the other or others of them, or for any bankers, brokers, or other persons into whose hands any money or assets of the company may come, or f
or any defects of title of the company to any property purchased, or for insufficiency or deficiency of or defect of title of the company to any }{\fs24\lang2057\langfe1033\langnp2057\insrsid2238303\charrsid15608043 security upon which any moneys }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 of or belonging }{\fs24\lang2057\langfe1033\langnp2057\insrsid2238303\charrsid15608043 to the company shall be placed }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 out or invested, }{\fs24\lang2057\langfe1033\langnp2057\insrsid2238303\charrsid15608043 or for any loss, misfortune or }{
\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 
damage resulting from any such cause as aforesaid, or which may happen in the execution of their respective offices or trust, or in relation thereto, unless the same shall happen by or through their own wilful act, neglect or default respectively."
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 32. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 Share expressed in other currencies}{
\fs24\lang2057\langfe1033\langnp2057\insrsid15343745\charrsid15608043  -}{\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043  The International Companies (Shares Expressed in other Currencies) Regulations 1982 are hereby revoked.
\par }{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid15608043 ----------------------------------}{\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid6574477\charrsid15608043 
\par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6574477 {\fs24\lang2057\langfe1033\langnp2057\insrsid10108149\charrsid15608043 This Act is administered by the Cook Islands Monetary Board.
\par }}