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\b\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 C}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid7936506\charrsid13912697 OMPANIES}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 A}{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid7936506\charrsid13912697 MENDMENT}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid1457460 1990}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid11364552 {\fs24\lang2057\langfe5129\langnp2057\insrsid11364552\charrsid1457460 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid7936506\charrsid13912697 ANALYSIS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15873577\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7936506\charrsid13912697 Title \par \par 1. Short Title and Commencement \par 2. Interpretation \par 3. Alteration of articles \par 4. Division 2 }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7936506\charrsid13912697 Debentures \par 5. Power to issue debentures \par 6. Negation of the rule in Re Charge Card Services Limited and Broad v Commissioner of Stamps Duties \par 7. Proxies \par 8. Branch Registers \par 9. New Part VIA }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid7936506\charrsid13912697 Registered Listed Companies}{\fs24\lang2057\langfe5129\langnp2057\insrsid7936506 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079\charrsid13912697 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10952527 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid15873577\charrsid9191566 PART VIA }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid13912697\charrsid9191566 -}{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid15873577\charrsid9191566 REGISTERED LISTED }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid10952527\charrsid9191566 COMPANIES \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10952527 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid10952527\charrsid9191566 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10952527 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid10498143\charrsid9191566 DIVISION 1 }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid8336606\charrsid9191566 - }{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid10498143\charrsid9191566 REGISTRATION}{\b\fs24\lang2057\langfe5129\langnp2057\insrsid8264415\charrsid9191566 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid8264415\charrsid13912697 126A Interpretation \par 126B Approval of Stock Exchanges \par 126C Entitlement to apply for registr}{\fs24\lang2057\langfe5129\langnp2057\insrsid15873577\charrsid13912697 ation as Registered Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid8264415\charrsid13912697 \par 126D Application for Registration \par 126E Registrar}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 s duties}{\fs24\lang2057\langfe5129\langnp2057\insrsid8264415\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \qc \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9191566 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid8264415\charrsid9191566 DIVISION 2 }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid13912697\charrsid9191566 -}{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid8264415\charrsid9191566 SPECIAL PROVISIONS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid8264415\charrsid13912697 126F Application of this Division \par 126G Inspection, production and copying of documents kept by Registrar \par 126H Premiums received on issue of share}{\fs24\lang2057\langfe5129\langnp2057\insrsid8532111 s to be share}{\fs24\lang2057\langfe5129\langnp2057\insrsid8264415\charrsid13912697 capital and limitations on application thereof \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15873577\charrsid13912697 126I Section 126H}{\fs24\lang2057\langfe5129\langnp2057\insrsid6619754 }{\fs24\lang2057\langfe5129\langnp2057\insrsid15873577\charrsid13912697 (2) not to }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 apply to premiums on shares issued }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 pursuant share premium account \par 126J Section 126H}{\fs24\lang2057\langfe5129\langnp2057\insrsid6619754 }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 (2) not to apply to premiums on shares issued }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 in certain group reconstructions \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 126K }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Balance sheet to disclose }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 origin }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of sums not req}{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 uired to be transferre}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 d to share premiu}{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 m account \par 126L }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Redemption o}{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 f redeemable stares \par 126M }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Dealing by a company in }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 its own shares \par 126N Cancellation of re}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 acquired }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 shar}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 es }{ \fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 by a Registered List}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ed Company \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 126O }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Powe}{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 r to issue shares at a discount \par 126P Reduction o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 f share capital \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 126Q }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Rights of }{\fs24\lang2057\langfe5129\langnp2057\insrsid8401091\charrsid13912697 holders}{ \fs24\lang2057\langfe5129\langnp2057\insrsid7632361\charrsid13912697 of classes of shares \par 126R }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Power to issu}{\fs24\lang2057\langfe5129\langnp2057\insrsid7632361\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 debentures \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid7632361\charrsid13912697 126S Meetings \par 126T Power to compromise with creditors and members \par 126U Information as to compromise with creditors and members \par 126V Provisions for facilitating reconstruction and amalgamation of Registered Listed Companies \par 126W Holders of 90 per cent of shares may acquire remainder \par 126X Capital maintenance \par 126Y Investigation of the affairs o}{\fs24\lang2057\langfe5129\langnp2057\insrsid4158441\charrsid13912697 f a Registered Listed Company and protection of the minorities}{\fs24\lang2057\langfe5129\langnp2057\insrsid7632361\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4158441\charrsid13912697 126Z letters of understanding \par 126AA Alternative remedy to winding up in cases of oppressive or prejudicial conduct \par 126BB Preservation of the books and asserts of a Registered Listed Company \par 126CC True and fair accounts \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \qc \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9191566 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid4158441\charrsid9191566 DIVISION 3 }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid9191566 -}{ \b\fs24\lang2057\langfe5129\langnp2057\insrsid4158441\charrsid9191566 DEREGISTRATION \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid11017399\charrsid13912697 126DD Application for deregistration}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4158441\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11017399\charrsid13912697 126EE Registrar}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid11017399\charrsid13912697 s duties \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid11017399\charrsid13912697 10. Part VII }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid11017399\charrsid13912697 Arrangement}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5851458 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid11017399\charrsid13912697 and reconstructions \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid11017399\charrsid13912697 129A Amalgamation of companies \par 129B Short form amalgamation \par 129C Registration of amalgamated companies \par 129D Effect of certificate of amalgamated companies \par 130A Power to acquire shares of shareholders dissenting from scheme or contract approved by majority \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1581656\charrsid13912697 11. Part XII }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid12999254 S}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1581656\charrsid13912697 hares and Debentures \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid1581656\charrsid13912697 229A Non}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1581656\charrsid13912697 application of Division 2 where prospectus registered in approved jurisdiction \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid1581656\charrsid13912697 12. Registration of prospectus \par 13. Minimum subscriptions \par 14. Application moneys t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid1581656\charrsid13912697 be held in trust until allotment \par 15. Contents of trust deed \par 16. Duties of trustee company \par 17. Proper Law \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid4867102 ---------------------------------------}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1581656\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1581656\charrsid13912697 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 1990, No. 4 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 An Act to amend the }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid462081 I}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 nternational Companies Act 1981}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 82} {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 (13 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 September 1990}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 \par }{\b\fs24\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 BE IT ENACTED}{\fs24\lang2057\langfe5129\langnp2057\insrsid12999254 by the P}{\fs24\lang2057\langfe5129\langnp2057\insrsid2051556\charrsid13912697 arliament of the Cook Islands in session assembled, and by the authority of the same, as follows; \par \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 1. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 Short Title and commen}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 cement}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) This Act may be cited as the International Companies Amendment Act 1990 and shall be read together with and deemed part of the International}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Companies Act 1981}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 82 (hereinafter referred to as }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 th}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 principal Act}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 )}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 . \par \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Section 6 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4867102\charrsid13912697 of this Act shall be deemed to have }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 commenced on the same}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4867102\charrsid13912697 day as }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the principal Act. \par \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 2. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 Interpretation}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4867102 }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4867102 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 principal Act}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13912697 Subsection }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) }{\fs24\lang2057\langfe5129\langnp2057\insrsid4867102 of the principal Act }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 is hereby amended by:}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Inserting the following term and its def}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 inition: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 ""}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Approved newspaper}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 in relation to an}{\fs24\lang2057\langfe5129\langnp2057\insrsid4227069 y notice}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 required to be published by any provisio}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 } {\fs24\lang2057\langfe5129\langnp2057\insrsid12585814 of this }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Act means any newspaper approved by th}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registrar:}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Adding to the definition of the term }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Ca}{\fs24\lang2057\langfe5129\langnp2057\insrsid4867102 pital}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 surplus}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the following words: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and includes unrealised capital }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1722794 profits of all }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 kinds}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 : \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Inserting the following term and }{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 its definition: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 ""}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Table B Debenture}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 means: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) a debenture stated on its face to be }{\fs24\lang2057\langfe5129\langnp2057\insrsid13240987 a secure }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 debenture issue}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 d in accordance with }{\fs24\lang2057\langfe5129\langnp2057\insrsid13240987 this Act }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 prior to 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 5 October 1990 provided th}{\fs24\lang2057\langfe5129\langnp2057\insrsid6961463 at a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 debenture secured by mortgage or cha}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 rge and not}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 issued upon terms that the provision}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 s of Table}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 B shall apply (with or without amend}{\fs24\lang2057\langfe5129\langnp2057\insrsid4600104\charrsid13912697 ments or}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 modifications) shall not be a Table}{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 B}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Deben}{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 ture for the purposes of this Act; }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 nd \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 (b) a }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 debenture expressed on its face to }{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 be a Table B}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Debenture or expressed to be issue}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid6961463 upon }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 terms that the provisions of}{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 T}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 able B shall apply with such modifications or amendmen}{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 ts as are set out in the terms }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of issue of any such debenture.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 . \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 3. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Alteration of }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 articles}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section 26 of the principal Act is hereby amended by omitting subsection (2) and substituting the following subsection: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) (a) A copy of such resolut}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 ion shall be lodged with the Reg}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 istrar within 1 month of its being passed or within such further per}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 iod as the Registrar may allow. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) Notwithstanding any failure to lodge such resolution with the Registr}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 ar the resolution shall be effective from }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the date of its passing.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 4. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Division 2 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Debentures}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Division 2 of Part IV of the principal Act is hereby }{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 amended by omitting all referenc}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 es to the term }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 secured debenture}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and substituting references to the term }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Table B Debenture}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 . \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 5. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Power to issue debentures}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section 57 of the principal Act is hereby amended by: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) Omitting from subsection (3) the words }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 " }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 hall}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 , subject to the terms of the debenture hav}{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 effect}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and substituting the words }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shall be deem ad to be issued subject to the terms contained in }{\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 T}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 able B and such Table B Debenture shall (subject always to the terms}{\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 thereof)}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 have the following effect}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 ; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13046853\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) Adding to paragraph (a) of subsection (3) after the words }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 suspended or modified}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the words }{\fs24\lang2057\langfe5129\langnp2057\insrsid865937 \'93i}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 n accordance with the terms of the Table B Debenture}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (c)}{\fs24\lang2057\langfe5129\langnp2057\insrsid15995180 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 Adding to subsection (3) the following new paragraph: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 (j) the holder of a Table B Debenture shall not be deemed to be or to have been a member or a shareholder of an international }{\fs24\lang2057\langfe5129\langnp2057\insrsid400355\charrsid13912697 company by reason }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 only of the holding of such Table B }{\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 Deben}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ture or the exercise by him or on his behalf of any rights or powers or discretions pursuant to the terms of the Table B Debenture or t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 he dealing in any way with the T}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 able B }{\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 Debenture}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5392506\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (d) Inserting the following new subsection: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid400355\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3A) Notwithstanding any other provision of this Act or any}{\fs24\lang2057\langfe5129\langnp2057\insrsid15995180 implication which apart from th}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 is subsection might arise or would arise at law or in equity, the holding or dealing with any Table B Debenture shall not impose or imply and }{\fs24\lang2057\langfe5129\langnp2057\insrsid15995180 s}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 hall be deemed (subject to any express, provision contained in the terms of issue of any such debenture or arising as a necessary implication therefrom) never to have imposed or implied any duty on the part of the holder of the Table B Deben ture to exercise any right or power or discretion contained in or arising out of or connected with the Table B Debenture for any particular purpose or t}{\fs24\lang2057\langfe5129\langnp2057\insrsid15995180 o}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 exercise any such right or power or discretion subject to any fiduciary or other like obligations whatsoever.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid400355\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 6. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Negation of the rule in Re Charge Card Service}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid161897 s}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Limited and Broad v Commissioner of Stamp Duties}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid4867102 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) The principal Act is hereby further amended by inserting the following new section as section 74A: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 74A. (1) Notwithstanding any}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 rule}{\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of}{\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 law to th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 contrary, any char}{\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 g}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e or security given, or purported to}{\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be given, by any person (}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the chargor}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) in favour of another person (}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the chargee}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) where: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) the charged property is or includes }{\fs24\lang2057\langfe5129\langnp2057\insrsid161897 a }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 debt due or to }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 b}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ecome due to the chargor }{\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 rom the chargee; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 b)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1448855\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 which deb}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 t is situated in the Cook Islands shall be deemed to be a charge over an asset and shall be as valid and enforceable to the same extent as if the charge or security had been given over that deb}{\fs24\lang2057\langfe5129\langnp2057\insrsid8350862 t in favour of any other person.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) }{\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 F}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 or the purpose of subsection (1) of this section, a debt shall be deemed to be situated in the Cook Islands if either:}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) the chargor is an international company; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16081735 (b) the chargee is an international company and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (i) the contract or deed evidencing t}{\fs24\lang2057\langfe5129\langnp2057\insrsid2176958 h}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16081735 e debt has been entered into (by}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 one or all of the parties) in th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Cook Islands; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (ii) the contract or deed evidenc}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ng the debt is, or is to be, given }{\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ffect to (whether in whole or in p}{\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 rt) in}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Cook Islands. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16531658\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 3}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) Nothing in this section shall be construed in any way to limit the validity or effect of:}{\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) any contractual, legal or equitable right of set off arising between the parties (including any right of a bank and the rules}{\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 relating to matters of account betwee}{\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 parties); or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) any provision creating other rights, powers, obligations (or the imposition of restrictions on obligations) between a debtor and a creditor; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and, for the avoidance of doubt, noth}{ \fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ng}{\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 in }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 this section shall be construed to re}{\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 q}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 uire the giving of any charge or security }{\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 b}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 y the parties to any contract or deed. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid11219415\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (4) For the purposes of this section any reference to a debt becoming due includes a reference to: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13304745\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) a credit balance of an account (whether or not ascertained at any particular tim}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13304745\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 )}{\fs24\lang2057\langfe5129\langnp2057\insrsid4412821 ;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13304745\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) a contingent claim; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13304745\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (c) proceeds and receivables due from time.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13304745\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Where charge or security of the type referred to in subsection (1) of section 74A of the principal Act (as inserted by subsection (1) of this section)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 has }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 been given, or purported}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to have been given by an international company which has not been registered in accordance with Division 4 of }{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 P}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 art IV of the principal Act, the charge may be registered pursuant to Division 4 within 42 days of the commencement of this Act, and on such registratio n the charge or security shall be deemed to hav}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 been registered in accordance with}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 Division 4 within 42 days }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of the giving of the charge or security. \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 7. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Proxies}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section }{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 9}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 7 }{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 of }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the principal Act is }{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 hereby }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 amended by omitting subsection (1) and substituting the fo}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 llowing}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 subsection: \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) A member of an international company entitle}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 d to}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 attend and vote at a meeting of the company or }{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 at a }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 meeting of any class of mem}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 b}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ers of the }{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 c}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ompany may}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ap}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 po}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 int any person or persons, whether a mem}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 b}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 er or members or not, as his proxy to attend and v}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 instead of the member at a meeting and a proxy so ap}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 p}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ointed shall have the same right as a member to speak at }{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 he meeting.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 8. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Branch registers}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 Parag}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 raph (b) of subse}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 c}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 tion (3) of section}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 111}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of the principal Act is hereby amended b}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 omitting the number }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 7}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and substituting the number }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 28}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 . \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 9. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 New Part VIA }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed Companies}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 The principal Act is hereby further amended by omitting }{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ection 126A and inserting a new Part VIA as}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 } {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 follows:}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690\charrsid9191566 "}{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid9191566 PART VIA \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid477406\charrsid9191566 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid9191566 REGISTERED LISTED COMPANIES \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid477406\charrsid9191566 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid9191566 DIVISION 1 }{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid9191566 -}{ \b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid9191566 REGISTRATION \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126A }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Interpretation}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 In this Part of this }{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 A}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ct, except insofar as the context or subject matter otherw}{ \fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 se indicates or requires }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Approved Stock Exchange}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 means any Stock Exchange lawfully}{\fs24\lang2057\langfe5129\langnp2057\insrsid2176958 operating for the trading of e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 quities in any of the following places: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }\pard \ql \li2127\ri0\widctlpar\faauto\adjustright\rin0\lin2127\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 (i) Australia \par (ii) Canada \par (iii) France \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (iv) Hong Kong}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (v) Indonesia}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (vi) Japan}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang1036\langfe5129\langnp1036\insrsid5272918\charrsid13912697 (vii) Luxembourg}{\fs24\lang1036\langfe5129\langnp1036\insrsid477406\charrsid13912697 \par }{\fs24\lang1036\langfe5129\langnp1036\insrsid5272918\charrsid13912697 (viii) Malaysia}{\fs24\lang1036\langfe5129\langnp1036\insrsid477406\charrsid13912697 \par }{\fs24\lang1036\langfe5129\langnp1036\insrsid5272918\charrsid13912697 (ix) Netherlands}{\fs24\lang1036\langfe5129\langnp1036\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (x) New Zealand}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (xi) Singapore}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (xii) South Africa}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (xiii) Taiwan}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (xiv) Thailand}{\fs24\lang2057\langfe5129\langnp2057\insrsid477406\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (xv) United Kingdom \par (xvi) United States of America \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and any other Stock Exchange which has bee approved by the Registrar pursuant to subsection }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4810194 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid9586866 2}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) of section 126B of this Act: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed Company}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 means a company listed on an Approved Stock Exchange and}{\fs24\lang2057\langfe5129\langnp2057\insrsid3170870 registered}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 pursuant to section 126E of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126B }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 A}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 pp}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 roval of Stock Exchanges}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) An}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 y}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 person may apply to the Registrar for his approval of any S}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ock Exchange as an Approved Stock Exchange. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Upon application under subsection (1)}{\fs24\lang2057\langfe5129\langnp2057\insrsid16531371 ,}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 supported by such material as he considers adequate and satisfactory, the Registrar may, if he is satisfied that the r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 levant}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Stock Exchange provides an active public market }{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 n the shares or securities or both of substantial public companies, grant his approval in writing to that Stock Exchange being designated an Approved Stock Exch}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 nge and, if such approval}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 is given, that Stock Exchange shal}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 l}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be deemed thereafter to be an Approved Stock Exchange purs}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 u}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ant to this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126C }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Entitlement to apply }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 for}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 registration as Regi}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 stered Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 1}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) An}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 international company which is listed or proposes to become listed on an Approved Stock}{\fs24\lang2057\langfe5129\langnp2057\insrsid2176958 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Exchange may apply to the Registrar for registration pursuant to section 126E of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Any foreign}{\fs24\lang2057\langfe5129\langnp2057\insrsid16531371 company which is listed on an}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16531371 Ap}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 proved Stock Exchange and which proposes to be registered s being continued pursuant to section 16 of this Act may ap}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 p}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ly to}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Registrar for registration pursuant to section 26E of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126D }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Application for registration}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Application for registration shall be made by lodging with the Regi}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 tra}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 :}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) A request for registration in the prescribed form; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) A resolution of the directors of the ap}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 p}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 licant company resolving to }{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 apply for the regis}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 tration;}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (c) In the case of an international company not listed on an Approved Stock Exchange, a resolution of the directors resolving t}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 o}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 apply}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 an Approved Stock Exchange for li}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 sti}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 g; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (d) In the case of a foreign company which }{\fs24\lang2057\langfe5129\langnp2057\insrsid3371773 is}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 listed on an Approved Stock Exchange, a resolu}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ion of the directors resolving to apply to be}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 registered as being continued pursuant }{\fs24\lang2057\langfe5129\langnp2057\insrsid3371773 to }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 section 16 of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (e) The prescribed fee. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126E }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registrar}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s duties}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) On compliance }{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 w}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ith the requirements for registration set out in section 12}{\fs24\lang2057\langfe5129\langnp2057\insrsid10814927 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 D the Registrar shall enter on the certificate of incorporation of the company or certificate of continuance as the }{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 cas}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e may be a Minute that the company is registered under this }{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 s}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ection and shall sign the Minute and state therein the dat}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 thereof: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Provided that in the case of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 a foreign company pr}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 oposing to be registered as being continued pursuant to section 16 of this A ct the Registrar shall not sign and date the Minute until the date on which the foreign company is so registered pursuant to section 16 of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) The comp}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 leted Minute shall be conclusive e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 vidence that all the requirements of this Division of this P art of this Act in respect of registration and of matters precedent and incidental thereto have been complied with and that the company is a Registered Listed Company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) Every subsequent renewed certificate of incorporation or continuance of a Registered Liste}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 company shall have a similar Minute entered thereon signed by the Registrar on the date of the issue of the certific}{\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 ate}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and such Minute shall be conclusive evidence in a similar manner to that provided in subsection (2) of this section}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2259432\charrsid13912697 \par }\pard \qc \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 DIVISION 2 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 SPECIAL PROVISIONS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126F}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Application of this Division}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) The provisions of this Division of this Part of this A}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 c}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 t shall apply to every Registered Listed Company and shall not apply to any company which is n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 t a Registered Listed Co}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 m}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 pan}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) In the applica}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ion of the provisions of this Division of this Part of }{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 his Act to any Registere}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed Company if there is any c}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 nflict between any provi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ion of this Division of this Pa}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 rt }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of this Act with any pr}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 vision of any other part of this A}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 c}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 t the provisions of this }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 D}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ivision of this Part of this Act shall prevail. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 126G}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 Inspection, production and copying of documents kept by Registrar}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 (1) Any person may: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 (a) inspect any document kept by the Registrar in connection with any Registered Listed Company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) require any cer}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 ti}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ficat}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 issued unde}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 this Act or a copy or extract from any docum}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 nt kept by the Registrar in respect of any}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 egistered}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed Company }{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 o be given or certi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 f}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ied by the Registrar on the payment of suc}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 fees as may be prescri}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 b}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ed. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) S}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 ubsection }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (5) of section }{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 8}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and subsect}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 on (2) of section 12 of this Act shall not apply where the i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 formation relates to }{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ny Reg}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 stered Listed Company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126}{\fs24\lang2057\langfe5129\langnp2057\insrsid16267090\charrsid13912697 H}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Premiums received on issue of shares to}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 be }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 share}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 capital and limitations on application thereof}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) Section 40 of this Act shall not apply to Registered Liste}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Companies and the provisions of this section shall apply. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Where a Registered Listed Company issues at a premium whether for cash or otherw ise, a sum equal to the aggregate amount or value of the premiums on thos}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shares shall be transferred to the share premium account and where assets are acquired by the issue of shares of a R}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 gistered Listed Company and no consideration is recorded, }{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 he assets so acquired shall be valued }{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 and if the value of th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e assets is more than the pa}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 r value of such shares, the dif}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ference between the par value of the shares and the value of the assets so acquired shall be transferred to the sh}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 a }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 re premium account. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) The premium account may, notwithstandi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 g anything contained in subsection (2), be applied by the Registered Listed Company in paying up unissued shares of th}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 e }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Limited Company to be issued to member of the Registered Listed Company as fully paid capitalis}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 tion shares or in writing off }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) the preliminary expenses of the Registered Listed Company; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) the expenses of, or the commission paid or discount allowed on, the creation }{ \fs24\lang2057\langfe5129\langnp2057\insrsid7019303 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 r issue of any shares or debentures of the Re}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 g}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 istered Listed Company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid5575258 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 or in providing for the premium pa}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ab}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 l}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e on red}{\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 emption of any redeemable prefer}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ence shares or of any debentures of the Registered Listed Company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (4) Except as provided in subsection (3) of this section, the share }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5702847 premium account shall be treat}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ed as part of the paid up capital of the Registered Listed C}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5120121\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 mpany for the purposes of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126I}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section 126}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2239766\charrsid13912697 H}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) not to apply to premiums o}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2239766\charrsid13912697 n}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shares issued pursuant to scheme of ac}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2239766\charrsid13912697 q}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 uisition}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) For the purposes of this section and section 12}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 6}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 J: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 equity share capital}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 means, in relation }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 o a Registered Listed Company, its issued s}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 are capital excluding any part thereof}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 which, neither as}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 respects dividends nor as respects capi}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 al, carries any right to participate beyond a specified amount in a distribution: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 issuing company}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 means a Registered Liste}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 d}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Company which issues shares in consideration fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the acquisition of shares in, or the und}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 rt }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 king of, another company: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 merged company}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 means a company in respects of which}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5702847 an}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 issuing company issues shares: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 scheme of acquisition}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 means: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 A}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 y arrangement pu}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 rs}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 u}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to sections 12}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 6T, 126V, }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126W, 129A or 12}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 9B }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of this Act;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Any }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 al}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 e }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 or arr}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 g}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ement of the whole }{\fs24\lang2057\langfe5129\langnp2057\insrsid11543501 or part }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 he business }{ \fs24\lang2057\langfe5129\langnp2057\insrsid11543501 or}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 property of a Regi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 stered}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed Company to which section 181 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 f}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 this }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Act applies: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 undertaking}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 means the }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 whole of a business and all }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 property, rights and }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 interests relating to that }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 business. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Nothing}{\fs24\lang2057\langfe5129\langnp2057\insrsid9527614\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 in subsection (2) of 126}{\fs24\lang2057\langfe5129\langnp2057\insrsid9527614\charrsid13912697 H}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of this }{ \fs24\lang2057\langfe5129\langnp2057\insrsid9527614\charrsid13912697 Act }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shall apply to the is}{\fs24\lang2057\langfe5129\langnp2057\insrsid12719153\charrsid13912697 sue of shares at a premium by an}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 issuing company pursuant to a scheme of acquisition}{\fs24\lang2057\langfe5129\langnp2057\insrsid12719153\charrsid13912697 whereby }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the shares are issued as}{\fs24\lang2057\langfe5129\langnp2057\insrsid12719153\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 fully paid up in}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12719153\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 considerat}{\fs24\lang2057\langfe5129\langnp2057\insrsid12719153\charrsid13912697 ion for}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 either: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12719153\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 The transfer or issue to the issuing com}{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 pany}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid11894159 of }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shares in a merged company, or the cance}{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 llation}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of shares in a merged company, which res}{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 ults in}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the issuing company acquiring (together }{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 with any }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shares already held by it or any subsidi}{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 aries}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 of }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the issuing company) 90 percent or more }{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 of the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 nominal value of the issued equity share}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 in the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 merged company; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 The transfer or sale to the issuing comp}{\fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 any of }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the whole of the undertaking of the merg}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8673185\charrsid13912697 ed}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126J}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 126H (}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 2) not to a}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 pp}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ly to }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 pr}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 emiums on }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 shares }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 issued in certain }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 g}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 r}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 oup }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 reconstruct ions}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) }{\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 Th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 s }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 section applies to the issue by an issuing company w}{\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 hich is}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a wholly owned subsidiary of its holding company of}{ \fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 shares}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 that holding company; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a wholly owned subsidiary of that hol}{\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 ding}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 company,}{ \fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 in consideration for the tran}{\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 sfer to}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the issuing company of shares in any }{\fs24\lang2057\langfe5129\langnp2057\insrsid11894159 other }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 subsidiary of that holding company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3353334\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Where an issuing company which is a Regis}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10304706\charrsid13912697 tered}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed Company issues}{\fs24\lang2057\langfe5129\langnp2057\insrsid10304706\charrsid13912697 shares to which this section applies }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 at a premium, nothing in subsection (2) of 126}{\fs24\lang2057\langfe5129\langnp2057\insrsid10304706\charrsid13912697 H }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of t}{\fs24\lang2057\langfe5129\langnp2057\insrsid10304706\charrsid13912697 his Act }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shall require the issuing company to transfer to the }{\fs24\lang2057\langfe5129\langnp2057\insrsid10422735 share }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 premium account any sum greater than the amount by w}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10304706\charrsid13912697 hich the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 value of the shares in the subsidiary transferred to issuing company as shown in the accounting records o }{\fs24\lang2057\langfe5129\langnp2057\insrsid10304706\charrsid13912697 f the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 company transferring the shares immediately before t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10304706\charrsid13912697 he}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 transfer, exceeds the nominal value of the shares issued by}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16074088\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the issuing company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16074088\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) For the purposes of this section, a compa}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 ny}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid10422735 shall }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be deemed to be a wholly owned subsidiary of another }{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 if it }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 has no members except that other and that other}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s wh}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 olly}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 owned subsidiaries and its or their nominees. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 26K}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Balance Sheet to disclose origin of sums no}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 t}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 required to be transferred to share premium account}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid8870342 - }{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 Where a }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed company issues shares at a premium but, by virtue of section 126}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 I }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of this Act, is not required to transfer a sum equal to the aggregate amount or value }{\fs24\lang2057\langfe5129\langnp2057\insrsid13267244 of the premiums }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 on those shares to a share p}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 remium account,}{\fs24\lang2057\langfe5129\langnp2057\insrsid9770839 and}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 that sum is incl}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 uded or shown in any reserve or retained profits of the Registered Listed Company in its balance sheet, that balance sheet shall state, whether by note or otherwise, the amount, origin, and nature of that sum}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 . \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126L}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Redemption of r}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 e}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 d}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 e}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 emable }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 s}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ha}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 r}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 es}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) A Registered Listed Company shall not redeem any of its redeemable shares unless that Registered Listed Compa}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 ny}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 complies with the following provisions: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 at a date not }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 more }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 h}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 an}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 30 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 days and n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 ot less}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 than 15 days before the date from whi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 ch the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 redemption of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 sh}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ares is}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to have e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 ffect the Regi}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ered }{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 Li}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 sted }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 C}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ompany shall cause}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 a notice }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to be published i}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 n an}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 approved newspaper in each of the jurisdictions in which the Registered Listed Company is listed stating the number of the shares in iss}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 u}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e, the number of the shares to }{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 b}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e redeemed, and the }{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ate as from wh}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ch the redemption is to }{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ave effect; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 on the date as from which the redemp}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 tion is to}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 have effect a statutory declaration }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 shall be }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 declared by at least 2 directors of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered}{\fs24\lang2057\langfe5129\langnp2057\insrsid1259887\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid1864827\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 declaring }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1864827\charrsid13912697 either that }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 on that date the Registered Listed C}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1864827\charrsid13912697 ompany}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid200708 is to }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the b}{\fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 est of their knowledge, after due inquiry }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 able to pay all its debts (including }{\fs24\lang2057\langfe5129\langnp2057\insrsid7098582 contingent }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 debts) or that all the creditors of }{\fs24\lang2057\langfe5129\langnp2057\insrsid7098582 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed Company on that da}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 te have }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 expressed in writing their concurren}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 redemption; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 where a Registered Listed Company re}{\fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 deems any of }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 its shares pursua}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 nt to this section, 28 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ays after the date as from which }{\fs24\lang2057\langfe5129\langnp2057\insrsid15143839 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 redemption has effect the Registered }{\fs24\lang2057\langfe5129\langnp2057\insrsid13399342 Listed }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Company shall file a memorandum, wit}{\fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 a copy of }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the notice referred to in paragraph}{\fs24\lang2057\langfe5129\langnp2057\insrsid12610138\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15301908\charrsid13912697 (a) and the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 declaration referred to in paragraph }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15301908\charrsid13912697 (b) annexed }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 there}{\fs24\lang2057\langfe5129\langnp2057\insrsid6056391 to, together with the prescribed fee in the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 office of the Registrar stating that provisions of this section have been }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5536816\charrsid13912697 duly complied}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 with. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5536816\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 (2) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 If any Registered Listed C}{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 m}{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 p}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 any fails }{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 to comply with }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 paragraphs (a), (b) or (c) of this section }{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 every }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 officer of the Registered Listed Company shall b}{ \fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 li}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 ble to a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 fine of $5,000. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 2}{ \fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 6M}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Dealing by a com}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 pan}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 y}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 in its own shares}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 (1) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 A Registered Listed Company shall not purchase i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 ts}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 own }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shares or provide financial assistance whether b}{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 y}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 guarantee, }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 loan or otherwise and whether directly or indire}{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 ctly for the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 purchase of its own shares unless }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the articles of the company authoris}{\fs24\lang2057\langfe5129\langnp2057\insrsid3694759\charrsid13912697 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4393470 such }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 purchase or financial assistance; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a special resolution of the company }{\fs24\lang2057\langfe5129\langnp2057\insrsid14313412 has been }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 passed authorising the purchase or f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 inancial }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 assistance as the case may be; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the purchase or financial assistance }{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 is made }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 from capital surplus of the company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 (d) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 at a date not more than 30 days and not less than 15 days before the date from which the purchase or financial assistance is }{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 o have effect the Registered Listed Company shall cause a notice to be published in an approved newspaper in each of the jurisdictio}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 ns in which }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Registered Listed Company is lis}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 ted stating}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the number of shares to be purchase}{\fs24\lang2057\langfe5129\langnp2057\insrsid15034285 d}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 and the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 date as from which the purchase is }{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 to have }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 effect and, where financial assista}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 nce is to be}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 given, the name of the party to who}{\fs24\lang2057\langfe5129\langnp2057\insrsid15034285 m}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 assistance is to be given and the t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 erms}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 of the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 financial assistance; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 )}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 on the date as from which }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the purchase or fina}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 cial assistance is to have effect a statut}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ry declaration is declared by a least two directors of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 th}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e }{\fs24\lang2057\langfe5129\langnp2057\insrsid3814808 Registered}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed Company declaring either that o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid3217619 that date the Registered L}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 isted Company is }{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 o the best of their knowledge, after due enquiry, able to pay all its current obligations or}{\fs24\lang2057\langfe5129\langnp2057\insrsid3217619 that all the creditors of the R}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 egistered Listed Company on that date have}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 expressed in }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 writing their concurrence to the purchase or the financial assistance as}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the case may be. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 W}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 here a Registered Listed company purchases its}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shares or provides financial assistance for the pur}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 c}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 hase of its shares pursuant to subsection (1) of this section, then within 2}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 8}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 days after the date as from which the pur}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 c}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 hase or the financial assistance as}{\fs24\lang2057\langfe5129\langnp2057\insrsid1323556 the case may be has effect the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed Company shall lodge a memorandum, with a copy of the notice referred to in paragraph (d) and the declaration referred to in paragraph (e) annexed th}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 reto, together with the pr}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 escribed fee in the office of th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e Registrar stating that the provisions of subsection (1) of this section have been duly complied with. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848401\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) Notwithstanding subsection (1) a Registe}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4202145\charrsid13912697 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ed Listed Company may purchase or otherwise acquire it}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 s }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 own shares for the purposes of }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) eliminating fractional shares; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) paying dissenting shareholders entit}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 l}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ed to payment for their shares under the p}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 r }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ovisions of this Act or regulations made unde}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 this Act; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (c) effecting, subject to this Act, the retirement of its redeemable shares }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 b}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 y redemption or by purchase at a price not exceeding the redemption price. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (4) For the purposes of this section }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 purch}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 se}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shall include exchange of shares for assets and acquisition by any method, but s}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4277361 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 all not include redemption. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (5) If any Registered Listed Company fails }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 o comply with paragraph (c) or (d) of subsection (1) of this section or subsection (2) of this sectio n every officer of the Registered Listed Company shall be liable to a fine of $5,000. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (6) If a company acts in contravention of this section, the company and any director of the company who made a declaration pursuant to paragraph (d) of subsection (1) of this section without reasonable grounds for any opinion expressed therein commi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8870342 ts an offence and is liable to a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 fine not exceeding $10,000. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (7) Nothing in this section shall affect the validity of any contract for the sale of shares in a Registered Listed Company or financial assistance made in breac}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 h}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of the provisions of this section. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126N}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Cancellation of re}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 acq}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 uired s}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 h}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ares by a Registered Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 All shares of a Registered Listed Company purchased by that Registered Listed Company in accordance with the provisions of subsection (1) of section 126}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 M}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of this Act shall be cancelled and thereupon such share}{\fs24\lang2057\langfe5129\langnp2057\insrsid13700717 s}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shall be restored to the status of authorised but unissued shares and a statement of ca}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 cel}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 la}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 tion of such shares shall be filed with the Registrar in accordance with this Act}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 126O}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 Power to issue shares at a discount}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 (1) Section 50 of this Act shall not apply to Registered Listed Companies and instead, (subject as provided in this section), it shall be lawful}{\fs24\lang2057\langfe5129\langnp2057\insrsid9134193 for a Registered Listed Company to issue at a discount shares in the Registered Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 of a class already issued \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 Provided that: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid1334205\charrsid13912697 (a) The issue of the shares at a discount are authorised by resolution passed in general meeting of the Registered Listed Company, and are sanctioned }{\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 by the Court; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 (b) The resolution specifies the maximum rate of discount at which the shares are to be issued; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 (c) At the date of the issue not less than 1 year has lapsed since the date on which the Registered Listed Company was entitled to commence business; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 (d) The shares are issued within 1 month after the date on which the issue is sanctioned by the Court or within such extended time as the Court may allow. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 (2) Where a Registered Listed Company has passed a resolution authorising the issue of shares at a discount, it may apply to the Court for an order sanctioning the issue, and on any such application the Court, if, having regard to all the circumstances of the case, it proper so to do, may make an order sanctioning the issue on such terms and conditions as it thinks fit. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 (3) Every prospectus relating to the issue }{ \fs24\lang2057\langfe5129\langnp2057\insrsid3435862\charrsid13912697 of the shares of a Registered Listed Company must contain particulars of the discount allowed o n the issue of the shares or of so much of that discount as has not been written off at the date of the issue of the prospectors. If default is made in complying with this subsection, the company and every officer of the company who is in default shall co mmit an offence against this Act.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5311197\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126P}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13576206 Reduction of share ca}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid9717853\charrsid13576206 p}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13576206 ital}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) Section 54 of this Act shall not apply to Registered Listed Companies and the provisions of this section shall apply. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Subject to confirmation by the Court}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 ,}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid13576206 a }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed Company may, if so authorised b}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13576206 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 its articles, by special resolution, reduce its share capital in}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 any way and, in particular, without limiting the }{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 g}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 enerality of the foregoing, may do all or any of the follow}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ng: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) extinguish or reduce the liability of any of the shares in respect of share capital no}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2899206 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 paid up;}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) cancel}{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 any paid up capital which is lo} {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 st or unrepresented by available assets; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (c) repay any paid up share capital which is in excess of the needs of th e Registered Listed Company or which it is otherwise in t}{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e interests of the Registered Listed Co}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2899206 mpany }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 as a whole to have paid off,}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16660600\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid7955881 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and may, so far as necessary, alter its memorandu}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16660600 m}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 by reducing the amount of its share capital and of its shares accordingly.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16660600\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) Where the proposed reduction of share }{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 c} {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 apital involves limitation of liability in respect of un}{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 p}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 aid share capital or the payment to any shareholder of any }{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 p}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 aid up}{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 share capital, and in any other case if the Court so directs}{\fs24\lang2057\langfe5129\langnp2057\insrsid8264264 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2899206\charrsid2899206 (a}{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 ) }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 every creditor of }{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 Registered Liste}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 d Company w}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 o, at the time fixed by the Court, is entitled to any debt or claim which, if that date were the commencement of }{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 winding}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 up of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 Registered Listed Company would be admissible in proof against the Registered }{\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 Listed}{\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 Company, shall be entitled to object to the reduction;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2899206 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13716655 (b) the Court, unless satisfied by statutory declaration that there are no such creditors, shall settle a list of cred itors so entitled to object and for that purpose shall ascertain as far as possible without requiring an application from any creditor the names of those creditors }{\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 and the nature and the amount of their debts or claims, and may publish notices fixing a final day on or before which creditors not entered on the list may }{\fs24\lang2057\langfe5129\langnp2057\insrsid8264264 claim to be so entered;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2899206 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 (c) where a creditor entered on the list whose debt is not discharged or whose claim has not been determined does not consent to the reduction, the Court may dispense wi}{\fs24\lang2057\langfe5129\langnp2057\insrsid14245674 th the consent of that creditor }{\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 on the Registered Listed Company securing payment of his debt or claim by appropriating as the Court directs- \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3306442\charrsid3306442 (i}{\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 ) if the Registered Listed Company admits the full amount of the debt or claim or although not admitting it is willing to provide for it, the full amount of the debt or claim; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 (ii) if the Registered Limited Company does not admit and is not willing to provide for the full amount of the debt }{\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 or claim or if the amount is contingent or not ascertained, an amount fixed by the Court.}{\fs24\lang2057\langfe5129\langnp2057\insrsid3306442 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 (4) Notwithstanding the provisions of subsection (3) the Court may, having regard to the circumstances of the case, direct that all or any of the provisions of that subsection shall not apply as regards any class of creditors. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 (5) Al l applications to the Court under the provisions of subsections (3) and (4) shall be lodged with the Court and the Registered Listed Company making such application shall bear the costs of any enquiry and advertisement directed by the Court under the prov isions of those subsections. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 (6) The Court, if satisfied with respect with every creditor who under subsection (3) is entitled to object that either his consent to the reduction has been obtained or his debt or claim has been discharged or has determined o r has been secured, may make an order confirming the reduction on such terms and conditions as it thinks fit and may by order require the Registered Listed Company to publish as the Court directs the reasons for reduction or such other information as the Court thinks expedient, and, if the Court thinks fit, the causes which led to the reduction. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 (7) An order made under subsection (6) shall show the amount of the share capital of the Registered Listed Company as altered by the order, the number of shares into which it is to be divided and the amount of each share }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5446140 and the amount, if any, at the date of the order deemed to be paid up on each share.}{\fs24\lang2057\langfe5129\langnp2057\insrsid14305598 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5446140 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5446140 (8) A copy of the order made by the Court confirming a resolution for reducing share capital shall be lodged by the Registered Listed Company with the registrar together with }{\fs24\lang2057\langfe5129\langnp2057\insrsid4861691 the prescribed fee and on}{\fs24\lang2057\langfe5129\langnp2057\insrsid5446140 the filing of the copy of the order the reduction of share capital confirmed by that order shall take effect.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5446140 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5446140 (9) A certificate of the Registrar shall be conclusive e vidence that all the requirements of this Act with respect to reduction of share capital have been complied with and that the share capital of a Registered Listed Company is as stated in that order.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5446140\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4810194\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (10) }{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 O}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 n the f}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 iling of the copy of an order the particulars shown in}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 r pursuant to subsection (7}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4810194 ) shall be deemed to be substit}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 uted for the co}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 rrespon}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ding}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 particulars in the memorandum and such substitution and any addition ordered by the Court to be made in}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 the nam}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e of the Registered Listed }{\fs24\lang2057\langfe5129\langnp2057\insrsid5446140 Company shall, in the case of an}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 y addition to the same, for such period as is specified in t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4810194 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e order of the Court, be deem}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 ed to be an alteration of the me}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 morandum for the purposes of}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 this}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4810194 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 (11}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) A member, past or pres}{ \fs24\lang2057\langfe5129\langnp2057\insrsid542500 ent, shall not be liable in }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 respect of any share, to any call or contribution }{\fs24\lang2057\langfe5129\langnp2057\insrsid542500 exceeding }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 in amount the difference between the amount of th}{\fs24\lang2057\langfe5129\langnp2057\insrsid542500 e share as }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 fixed by the order and the amount paid, or the re}{\fs24\lang2057\langfe5129\langnp2057\insrsid3150645 duced}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 amount which is to be deemed to have been paid, o}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 n the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 share, as the case may be. Where any creditor en}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10189684 titled to}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 object to the reduction is not entered on the }{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 l}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 st of}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 creditors, by rea}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10189684 son of his ignorance of the proceedings for}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 reduction or of their nature and effect upon his }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10189684 claim, and }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 after the reduction the Registered Listed Company }{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 is unable }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to pay the amount of his debt or claim within 1 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 ear}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10189684 after }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the debt or claim becomes due and payable or 1 ye}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 ar}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid287680 after }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the date of reduction whichever is the later then}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16660600 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4810194\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) every person who was a member of that Registered Listed Company a t the date of the registration of the order for reduction shall be liable to contribute for the payment of that debt or claim an am}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 ount not exceeding the amount which he }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 would have been liable to contribute}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 if the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed Company had commen}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 ced to be}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 wound up on the day before the date }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10189684 of the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 regis}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 tration of the order for reduct}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10189684 ion; and }{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) if that Registered Listed Company is}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 wound up by}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Court on an application by any s}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 uch}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 creditor, then upon proof of his ign}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 orance of the proceedings for}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 reduction or of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10189684 their nature }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and effect upon his claim, the Court }{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 may settle a }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 list of persons so liable to contr}{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 ibute, and}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 make and enforce calls and orders on }{\fs24\lang2057\langfe5129\langnp2057\insrsid10189684 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 contributories in a winding}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 up, \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5446140 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 but nothing in this subsection shall affect the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid612491 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ights of the contributories among themselves.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid612491 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (12) Any officer of any Registered Listed Co}{\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 mpany}{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 who-}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) wilfully conceals the name of any creditor entitled to object to the reduction;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9717853 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) wilfull}{\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 y misrepresents the nature of}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 amount of the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 debt or claim of any credito}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9717853 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ;}{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 or}{\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (c) is party to any such concealment or misrepresentation, \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shall be guilty of an offence against this Act }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2047364 and shall be personally liable for the amount}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of such debt o}{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 r claim.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126Q}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid2047364 Rights of holders of classes of shares}{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 -(1)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section 55 of this Act shall }{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 not }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 apply to Regis}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2047364 tered Listed}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Companies and the provisions}{\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 o}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 f this section sh}{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 all apply.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9717853\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 (2}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) If the s}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9717853 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 are capital of a Registered }{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 Listed }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Company is divided into diff}{\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 rent classes of sh}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9717853 are}{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 s and}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 provision is made by }{ \fs24\lang2057\langfe5129\langnp2057\insrsid9717853 its art}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 icles for authorisi}{\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 ng}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2047364 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 variation or}{\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 abrogation of the rights attached }{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 to any }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 class of shares }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15217090 and provision is made by its articles for authorising the variation or abrogation of the rights attached to any class of shares }{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 in the company, subject to the c onsent of any specified proportion of the holders of the issued shares of that class or the sanction of a resolution passed at a separate meeting of the holders of those shares and, in pursuance of the said provisions, the rights attached to any class of shares are at any time varied or abrogated, the holders o}{\fs24\lang2057\langfe5129\langnp2057\insrsid12726625 r not less in the aggregate than}{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 10 per centum of the issued shares of that class, being person}{\fs24\lang2057\langfe5129\langnp2057\insrsid12726625 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 who did not consent to or vote in favour of the resolution for the variation or abrogation, may lodge an application with the Court to have the variation or abrogation cancelled an}{\fs24\lang2057\langfe5129\langnp2057\insrsid8008612 d}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2047364 if any such application is made, the variation or abrogation shall not have effect until confirmed by the Court on application lodged by the Registered Listed Company in the manner prescribed. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2047364 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9766346 (3) An application shall not be invalid}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 by rea}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 son of}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 any applicant having consented to or voted in favour of the resolution for the variation or abrogation if the Co}{\fs24\lang2057\langfe5129\langnp2057\insrsid9717853 u}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 rt is satisfied that any}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 relevant fa}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ct was not disclosed b}{\fs24\lang2057\langfe5129\langnp2057\insrsid9766346 y}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Registered Listed Company to that applicant before h}{\fs24\lang2057\langfe5129\langnp2057\insrsid9766346 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 so consented or voted and the applicant shall be deemed not to have consented to, or voted in favour of that resolu}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ion. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (4) The application shall be lodged within 28 days after the date on which consent was given or the resolution was passed or such further time as the Court allows, and the application shall be lodged in the first instance in writing in the prescribed form. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (5) After hearing the applicant and any other person who lodges an applic ation with the Court to be heard and who appears to the Court to be interested, the Court may}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 disallow or confirm the variation or abrogation as }{\fs24\lang2057\langfe5129\langnp2057\insrsid5058427 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 he case may be. The decision of the Court shall be final and it shall have a discretion as to how the costs and expenses of and incidental to such application shall be paid an}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 d}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 may order accordingly. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (6) A Registere}{\fs24\lang2057\langfe5129\langnp2057\insrsid9532096 d Listed Company shall within 28}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 days after the making of an order by the Court on any su}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 ch}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 application cause to be lodged with the Registrar a copy of the Court}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s order and if default is made in complyi}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 g with this provision the Registered Listed Company and ev}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ry officer of the compa}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12932196 ny who is in default shall be gui}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 lty of an offence against this Act.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9191566 126}{\fs24\lang2057\langfe5129\langnp2057\insrsid7873085\charrsid7873085 R. }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid7873085\charrsid7873085 Power to issue debentures}{\fs24\lang2057\langfe5129\langnp2057\insrsid7873085\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid9191566 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid7873085 Paragraph(e) of subsection (1) and subsection(3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid7873085\charrsid13912697 of}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 section 57 of his Act shall have no application to Registered Listed Comp}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 nies which shall have no power to issue }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13714809 Table B}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 Debenture}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 126S}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13714809 Meetings}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 The approval of the members}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of any Registered Listed Company shall not be required to }{\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 l}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ocate any annual general meeting or extraordinary general meeting of the company in any country in which the company }{\fs24\lang2057\langfe5129\langnp2057\insrsid13245557 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s listed on an Approved Stock Exchange. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 T}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13714809 Power to compromise with creditors and mem}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid12932196\charrsid13714809 b}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13714809 ers}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) Section 127 of this Act shall not apply to Re}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 gi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 stered}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed }{ \fs24\lang2057\langfe5129\langnp2057\insrsid12932196 C}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ompanies and the provisions of this section shall apply. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) In this section, except insofar as the context or subject matter otherwise indicates or requires }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 arrangement}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 includes a reorganization of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 share capital of a Registered Listed Co}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 m}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 pan}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12932196 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 by the consolidation of shares of differen}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 classes or by the division of shares into share}{\fs24\lang2057\langfe5129\langnp2057\insrsid8082599 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of different cl}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 asses or by both those methods:}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 company}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 means any Registered Listed Company liable to be wound up under this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 (3) Where a}{\fs24\lang2057\langfe5129\langnp2057\insrsid4810194 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13714809 compromise or arrangement}{\fs24\lang2057\langfe5129\langnp2057\insrsid11752847 is proposed between a Registered}{\fs24\lang2057\langfe5129\langnp2057\insrsid13714809 Listed Company and its credits or any class of them or between the company and its members}{\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 or any class of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid12860433 m}{ \fs24\lang2057\langfe5129\langnp2057\insrsid11954636 , the Court, on an application being lodged by the company or by any creditor or any member of the company or, in the case of the company being wound up, by the liquidator, may order a meeting of the creditors or a class of creditors or of members of the company or a class of members to be summoned in such manner as the Court may direct. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 (4) If a majority in number representing three-fourths in value of the creditors or class of creditors or members or class of mem}{\fs24\lang2057\langfe5129\langnp2057\insrsid7371327 bers present and}{\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 voting either in person or by proxy at the meeting agrees to any compromise or arrangement}{\fs24\lang2057\langfe5129\langnp2057\insrsid11546686 , the compromise or arrangement if approved by order of the Court or, in the case of companies being wound up compulsorily, by the Court, shall be binding on all the creditors or class of cre ditors or on all the members or class of members, as the case may be, and also on the company or, in the case of a company in the course of being wound u}{\fs24\lang2057\langfe5129\langnp2057\insrsid13510943 p}{ \fs24\lang2057\langfe5129\langnp2057\insrsid11546686 , on the liquidator and contributories of the company}{\fs24\lang2057\langfe5129\langnp2057\insrsid7018939 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid7018939 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid7018939 (5) The Court may grant its approval to a comp romise or arrangement subject to such alterations or conditions as is thought fit. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10441951 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10441951 (6) An order under subsection (4) shall have no effect until an office copy of the order is lodged with the Registrar and the prescribed fee paid and, upon being so lodged, the order shall take effect on and from the date of filing of the same or such earlier date as the Court may determine and as may be specified in the order. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10441951 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10441951 (7) A copy of any order made under subsection (4) shall be annexed to every copy of the memorandu m and articles of the company issued after the order has been made.}{\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10441951 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10441951 (8) Where any such compromise or arrangement in respect of a Registered Listed Company for the purposes of or in connection wi}{\fs24\lang2057\langfe5129\langnp2057\insrsid12586434 th a scheme for the reconstruction}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10441951 of any company or companies or the amalgamation }{\fs24\lang2057\langfe5129\langnp2057\insrsid16284881 of any two or more companies has been proposed, the directors of the company-}{ \fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16284881 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16284881\charrsid16284881 (a}{\fs24\lang2057\langfe5129\langnp2057\insrsid16284881 ) if the meeting of the members of the company by resolution so directs, shall instruct such experts or a trustee company or both as are named in the res olution to report on the proposal and forward their report or reports to the directors as soon as may be; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16284881 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16284881 (b) shall make such report or reports available at the registered office of the company in the Cook Islands for inspection by the shareholders an d creditors of the company at least 14 days before the date of any meeting ordered by the Court to be summoned as provided in subsection (3)}{\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16284881 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16284881 (9) A Registered Listed Company which defaults in complying }{\fs24\lang2057\langfe5129\langnp2057\insrsid4676307 with subsection (7) or (8) and every officer of a Registered Listed Company who is in default shall be guilty of an offence against this Act.}{\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4676307 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4676307 (10) Where no order has been made or resolution passed for the winding up of a Registered Listed Company and any such com promise or arrangement as is referred to in subsection (3) of this section has been proposed between the Registered Listed Company and its creditors, or any class of such creditors, the Court on such application lodged by the Registered Listed Company or by any member or creditor of the Registered Listed Company, may }{\fs24\lang2057\langfe5129\langnp2057\insrsid13791889 re}{\fs24\lang2057\langfe5129\langnp2057\insrsid4676307 strain further proceedings in any action or proceeding against the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13246591 Registered Listed Company except by leave of the Court and subject to such terms as the Court imposes.}{\fs24\lang2057\langfe5129\langnp2057\insrsid4676307 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13246591 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13246591 126U}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13246591\charrsid15406690 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid13246591 Information as to compromise with creditors}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4128938 and members}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4128938\charrsid4128938 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 (1) Section 128 of this Act shall not apply to Registered Listed Companies and the provisions of this section shall apply.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4128938\charrsid4128938 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 (2) Where a meeting is summoned in respect of a Registered Listed Company under section 126T-}{ \fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4128938\charrsid4128938 (a}{\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 ) with every notice summoning the meeting which is sent to a creditor or member, there shall be sent also a statement explaining the effe}{\fs24\lang2057\langfe5129\langnp2057\insrsid15404967 ct of the compromise or arrangement}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12848710 and}{\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 in particular stating the material interests of the directors, whether as directors or as members or as creditors of the company or otherwise,} {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 and the effect thereon of the compromise or arrangement in so far as it is different from the effect on the like }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 interests of other persons; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4128938 (b) in every notice summ oning the meeting which is given by advertisement, there shall be included either such statement or a notification of the place at which and the manner in which creditors or members }{\fs24\lang2057\langfe5129\langnp2057\insrsid9644447 entitled to attend the meeting}{\fs24\lang2057\langfe5129\langnp2057\insrsid9533977 may obtain copies of such statements.}{\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9533977 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9533977 (3) Where the compromise or arrangement affects the rights of debenture holders, the statement shall give the like explanation with respect to a trustee company when the trustee company is acting as trustee for the debenture holders as, under section (2), a s tatement is required to give}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 with respect to the directors.}{\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9533977 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid11954636 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 4}{ \fs24\lang2057\langfe5129\langnp2057\insrsid789265 ) Where a notice given by }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid16660600 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid789265 Registered Listed Company by }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 advertisement includes a}{\fs24\lang2057\langfe5129\langnp2057\insrsid789265 notification that copies of such statement}{\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 can be obtai ned, every creditor or member entitled to attend the meeting shall on making application in the manner indicated by the notice be furnished by the}{\fs24\lang2057\langfe5129\langnp2057\insrsid9373584 company free of charge with a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid3555183 copy of the statement.}{\fs24\lang2057\langfe5129\langnp2057\insrsid9122580 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 (5) Each director of the Registered Listed Company and the trustee company on behalf of the debenture holders shall give notice to the company on such matters relating to himself and itself as may be necessary for the purposes of this section. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 (6) Where default is made by a Registered Listed Company in comply ing with any requirements of this section, the Registered Listed Company and every officer of the Registered Listed Company who is}{\fs24\lang2057\langfe5129\langnp2057\insrsid3070 in}{\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 default shall be guilty of an offence against this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 (7) For the purpose of this subsection (6), a liquidator of a Reg istered Listed Company and the trustee company acting on behalf of debenture holders shall be deemed to be officers of the Registered Listed Company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 (8) Notwithstanding the provision of subsection (6), a person shall not be liable under that subsection}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10887735 if he shows that the default was due to refusal of any director or trustee company to supply the necessary particulars as to his or its interests.}{\fs24\lang2057\langfe5129\langnp2057\insrsid3555183 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 126V}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10887735 Provisions for facilitating reconstruction and amalgamation of Registered Listed Companies}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10887735\charrsid10887735 (1)}{\fs24\lang2057\langfe5129\langnp2057\insrsid10887735\charrsid15406690 }{\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 Sectio n 129 of this Act shall not apply to Registered Listed Companies and the provisions of this section shall apply. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 (2) In this section, except in so far as the context or subject matter otherwise indicates or requires, }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 property}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 includes property rights and powers of every description.}{\fs24\lang2057\langfe5129\langnp2057\insrsid9122580 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 (3) Where an application is made to the Court under section 126T for the approval of a compromise or arrangement and it is shown to the Court that the }{\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 compromise and the arrangement has been proposed for the purposes of or in connection with a scheme for the reconstruction of any Registered Listed Company , or the amalgamation of any Registered Listed Company with any one or more companies (whether a Re gistered Listed Company or not) and that under the scheme the whole or any part of the undertaking or the property of any such company concerned in the scheme, in this section referred to as the }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16134512 transferor company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 , is to be transferred to any other compan y, in this section referred to as the }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 transferee company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16134512 , the Court may either by order approving the compromise or arrangement or by any subsequent order provide for all or any of the following matters:}{\fs24\lang2057\langfe5129\langnp2057\insrsid10887735 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16134512\charrsid16134512 (a}{\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 ) the transfer to the transferee company of the whole or any part of the un}{\fs24\lang2057\langfe5129\langnp2057\insrsid14186576 dertaking and of the property or}{\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 liabilities of the transferor company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 (b) the allotting or appropriation by the transferee company of any shares, debentures, policies or other li ke interests}{\fs24\lang2057\langfe5129\langnp2057\insrsid15891770 in that company which under the compromise or arrangement are to be}{\fs24\lang2057\langfe5129\langnp2057\insrsid13441944 allotted or appropriated by that}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15891770 company to or for any person;}{\fs24\lang2057\langfe5129\langnp2057\insrsid16134512 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15891770 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15891770 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 the continuation by or against the transferee company of any legal proceedings pending by or against the transferor company;}{\fs24\lang2057\langfe5129\langnp2057\insrsid15891770 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 (d) the dissolution, without winding-up, of the transferor company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 (e) the provision to be made for any persons, who, within such time and in such manner as the Court directs, dissent from the compromise or arrangement; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 (f) such i ncidental, consequential and supplemental matters as are necessary to secure that the reconstruction or amalgamation shall be fully and effectively carried out. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 4) Where an order made under this sect}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9968656 ion provides}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 for the transfer of property or liabilities }{\fs24\lang2057\langfe5129\langnp2057\insrsid14576965 then by }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 virtue of the order that property shall be }{\fs24\lang2057\langfe5129\langnp2057\insrsid14576965 transferred to }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and vest in, and those liabilities shall be }{\fs24\lang2057\langfe5129\langnp2057\insrsid14576965 transferred }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to and become liabilities of, the transfer}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12932196 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e }{\fs24\lang2057\langfe5129\langnp2057\insrsid14576965 company, }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 free in the case of any particular property }{\fs24\lang2057\langfe5129\langnp2057\insrsid14576965 if the order }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 so directs from any charge which is by virt}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 ue of }{\fs24\lang2057\langfe5129\langnp2057\insrsid14576965 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 compromise or arrangement to cease to have}{\fs24\lang2057\langfe5129\langnp2057\insrsid14576965 effect.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (5) Where a}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 order is m}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 ade under this }{\fs24\lang2057\langfe5129\langnp2057\insrsid2386334 section, a }{ \fs24\lang2057\langfe5129\langnp2057\insrsid12932196 Registered Listed}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Company i}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 n relation to wh}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9122580 ich }{\fs24\lang2057\langfe5129\langnp2057\insrsid2386334 the order }{\fs24\lang2057\langfe5129\langnp2057\insrsid9122580 it }{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 is made shall lo}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 dge an of}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 fice copy thereof}{\fs24\lang2057\langfe5129\langnp2057\insrsid2386334 with the Court }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and pay the pr}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 scribed fee within 14 days a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2386334 fter the making of the order }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and every }{\fs24\lang2057\langfe5129\langnp2057\insrsid2386334 Registered Listed Company }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 whic}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 makes default in com}{ \fs24\lang2057\langfe5129\langnp2057\insrsid12932196 p}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ly}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 ing}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 wi}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 th this }{\fs24\lang2057\langfe5129\langnp2057\insrsid2386334 subsection }{\fs24\lang2057\langfe5129\langnp2057\insrsid71743 and }{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 every officer of}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Registered Listed Co}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 m}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 p}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 any}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 who is in }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 default shall b}{\fs24\lang2057\langfe5129\langnp2057\insrsid9122580 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 guilt}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9122580 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 of any offence against this Act.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9968656 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126W}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid1521147 Holders of 90 p}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid1521147 e}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid1521147 r}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid1521147 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid1521147 cent of }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid1521147 sh}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid1521147 ares may acquire}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid1521147 }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid1521147 remainder}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) }{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 Th}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 older or holders of not less t}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 han}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 90 per cent of the shares or any class of shares in a Registered Listed Company (hereinafter in this section referred to as the }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "} {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 purchasers}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) may give notice to th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 remaining shareholders or class of shareholders of the intention to acquire their shares on the terms (includ}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16721299 ing}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the terms as to price, timing and settlement) set out }{\fs24\lang2057\langfe5129\langnp2057\insrsid11745896 in }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the notice. When such a notice is given the purchaser shall be }{\fs24\lang2057\langfe5129\langnp2057\insrsid16721299 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ntitled and bound to acquire}{\fs24\lang2057\langfe5129\langnp2057\insrsid16721299 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the shares of t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16721299 he}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid16721299 emaining shareholders on the term}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s set out in the not}{\fs24\lang2057\langfe5129\langnp2057\insrsid16721299 ice}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 unless a remaining shareholder applies to the Court fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid16721299 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 an appraisal under subsection (2):}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16721299\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Provided that the foregoing provisions of this subsection shall not apply unless the purchasers offer the same terms to all holders of the shares whose acquisition is involved. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Any shareholder to whom a notice has been given under subsection (1) may within 1 month of receiving the notice a}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 pply to the Court to appraise the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 value of the shares to be pur}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 c}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 hased from him and }{ \fs24\lang2057\langfe5129\langnp2057\insrsid6358691 the purchasers shall be entitled}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to acquire the shares at price so fixed by the Cour}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 t:}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 Provided that the value}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 appraised by the Court sha}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 ll}{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 not be less than the v}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 al}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1521147 u}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e stipulated in the notice referred to in subsec}{\fs24\lang2057\langfe5129\langnp2057\insrsid12932196 tion}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) of this section. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) Within 1 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 month }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of the Court appraising the }{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 value }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of any shares }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4810194 und}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 er subsection}{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) the purchase}{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 rs shall}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be entitled either:}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 (a) to }{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 ac}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 quire all }{\fs24\lang2057\langfe5129\langnp2057\insrsid9710419 the sh}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ares involved at}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 }{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 pri}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 c}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 fix}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 d by t}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 he Court; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) cancel t}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 h}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e notice given under subsecti}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 on}{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 (1)}{ \fs24\lang2057\langfe5129\langnp2057\insrsid6832901 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (4) Where the Court has appraised any shares un}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1521147 der}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 subsection (2) and the purchasers have prior to the }{\fs24\lang2057\langfe5129\langnp2057\insrsid1521147 appraisal acquired any shares b}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 y virtue of a notice u}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 nder}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 subsection (1) then within 1 month of the Court appraising the value of the shares if the price of th}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shares they have paid to any shareholder is less than that appraised by the Court they sh}{\fs24\lang2057\langfe5129\langnp2057\insrsid13304499 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ll either:}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 pay to such shareholder the difference }{\fs24\lang2057\langfe5129\langnp2057\insrsid13304499 in }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the price they have paid to him and th}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 price appraised by the Court; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10646630\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) cancel the notice given under subsecti}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 on}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 1}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) return to the shareholder any shar}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid6832901 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 they have acquired and the shareholder shall repay the purchasers the purc} {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 as}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 price. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (5) No appeal }{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 shall }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10646630 lie from an appraisal by the }{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 Court under this section. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (6) The costs of any }{\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 application to the Court under this section shall be at the discretion of the Court.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 (7) In this section:}{\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 price}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 shall include not only monetary price but also the monetary value of any shares, securities or other assets offered by the purchasers in exchange for the shares to be acquired. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10646630\charrsid4815319 126X}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690\charrsid4815319 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10646630\charrsid4815319 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid10646630\charrsid4815319 Capital maintenance }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690\charrsid4815319 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10646630\charrsid4815319 (1) Section 217 of this Act shall not apply to Registered Listed Companies. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10646630\charrsid4815319 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid10646630\charrsid4815319 (2) }{\fs24\lang2057\langfe5129\langnp2057\insrsid7030221\charrsid4815319 A Registered Listed Company may make payment of dividends to shareholders out of its profits, including for the avoidance of doubt any capital surplus.}{\fs24\lang2057\langfe5129\langnp2057\insrsid10646630\charrsid4815319 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7030221 {\fs24\lang2057\langfe5129\langnp2057\insrsid7030221\charrsid4815319 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid7030221 126Y}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid7030221 } {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid7030221 Investigation of the affairs of a Registered Listed Company and the protection of minorities}{\fs24\lang2057\langfe5129\langnp2057\insrsid9191566\charrsid9191566 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid7030221 - (1) The Registrar may, at any time of his own volition }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 or on the application of-}{\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7537282 {\fs24\lang2057\langfe5129\langnp2057\insrsid7537282 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7537282 {\fs24\lang2057\langfe5129\langnp2057\insrsid7537282\charrsid7537282 (a}{\fs24\lang2057\langfe5129\langnp2057\insrsid7537282 ) members holding not less than one-tenth of the shares in the Registered Listed Company, or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid7537282 {\fs24\lang2057\langfe5129\langnp2057\insrsid7537282\charrsid7030221 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid7537282 {\fs24\lang2057\langfe5129\langnp2057\insrsid7537282 (b) the relevant Minister or official or statutory body }{\fs24\lang2057\langfe5129\langnp2057\insrsid9714917 invested with the appropriate power in the jurisdiction where the Registered Listed Company is listed on a stock exchange who is responsible for the administration of the legislation or regulations as to the inspection of affairs of companies in that jurisdiction,}{\fs24\lang2057\langfe5129\langnp2057\insrsid10646630 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9714917 {\fs24\lang2057\langfe5129\langnp2057\insrsid9714917 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9714917 {\fs24\lang2057\langfe5129\langnp2057\insrsid9714917 appoint one or more inspectors within or outside }{\fs24\lang2057\langfe5129\langnp2057\insrsid9401757 the Cook Islands to investigate the affairs of the Registered Listed Company and to report thereon in such manner as he may direct.}{\fs24\lang2057\langfe5129\langnp2057\insrsid9714917 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9401757 {\fs24\lang2057\langfe5129\langnp2057\insrsid9401757 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9714917 {\fs24\lang2057\langfe5129\langnp2057\insrsid9401757 (2) The application by the members of the Registered Listed Company shall be supported by such evidence as the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10361133 Registrar ma y require fro the purpose of showing that the applicants have good reason for the investigation; and the Registrar may, before appointing an inspector require the applicants to give security for payment of the cost of inquiry. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10361133 {\fs24\lang2057\langfe5129\langnp2057\insrsid10361133 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9714917 {\fs24\lang2057\langfe5129\langnp2057\insrsid10361133 (3) If an inspector consider s that any officer or agent of the Registered Listed Company or any other person is or may be in possession of any books or documents of or relating to or in possession of any information concerning the affairs of the company, he may require that person t o produce to him or documents in his custody or power of or relating to the company and/or attend before him or otherwise to give him all assistance in connection with the investigation he is reasonably able to give; and it shall be the duty of that person to comply with the requirements. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10361133 {\fs24\lang2057\langfe5129\langnp2057\insrsid10361133 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9714917 {\fs24\lang2057\langfe5129\langnp2057\insrsid10361133 (4) An inspector may examine on oath any such person as is mentioned in subsection (3) in relation to the affairs of the Registered Listed Company and may administer an oath accordingly. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10361133 {\fs24\lang2057\langfe5129\langnp2057\insrsid10361133 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9714917 {\fs24\lang2057\langfe5129\langnp2057\insrsid10361133 (5) Where an officer or agent or p erson mentioned in subsection (3) refuses to produce any book or document that under this section it is his duty to produce, or }{\fs24\lang2057\langfe5129\langnp2057\insrsid1472846 to answer any question relating to the affairs of the Registered Listed Company, he shall be liable to a fine not exceeding $10, 000 and the Court convicting him may order him to produce to the inspector the books or documents in respect of which he was convicted.}{\fs24\lang2057\langfe5129\langnp2057\insrsid10361133 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1472846 {\fs24\lang2057\langfe5129\langnp2057\insrsid1472846 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9714917 {\fs24\lang2057\langfe5129\langnp2057\insrsid1472846 (6) A person shall not be excused from answering a question put to him under this sectio}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8744983 n by an inspector on the ground that the answer might tend to incriminate him but, where such person claims, before answering the question, that the answer might tend to incriminate him, neither the question nor the answer shall be admissible in evidence against him in criminal proceed ings other than proceedings in relation to a charge of perjury in respect of the answer. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8744983 {\fs24\lang2057\langfe5129\langnp2057\insrsid8744983 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid9714917 {\fs24\lang2057\langfe5129\langnp2057\insrsid8744983 (7) A person who complies with any requirement under this section of an inspector investigating the affairs of a company shall not incur any liability to any person by reason only of that compliance, and a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 }{\fs24\lang2057\langfe5129\langnp2057\insrsid8744983 certificate by the inspector under his hand stating that he is investigating the affairs of the company and that the person to whom the requirement is made is an officer, agent or employee, as the cases may be, of the company or person whom he considers may be in possession of any information concerning its affairs shall be conclusive evidence of those facts. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8744983 {\fs24\lang2057\langfe5129\langnp2057\insrsid8744983 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid8744983 (8) If an inspector appointed under this section to investigate the affairs }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13636898 of a Registered Listed Company }{\fs24\lang2057\langfe5129\langnp2057\insrsid8744983 thinks it necessary for the purposes of his investigation to investigate also the affairs }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13636898 of any other company that is or has at any relevant time been-}{\fs24\lang2057\langfe5129\langnp2057\insrsid8744983 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898\charrsid13636898 (a}{\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 ) a subsidiary or a holding company of the Registered Listed Company;}{\fs24\lang2057\langfe5129\langnp2057\insrsid8744983 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 (b) a subsidiary of its holding company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 (c) a holding company of its subsidiary, or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 (d) substantially under the control of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid2383700 same person as the Registered L}{\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 isted Company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid13636898 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid2383700 he shall have power so to do, and shall report on the affairs of the other comp any so far as he thinks the results of his investigation thereof are relevant to the investigation of the affairs of the Registered Listed Company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2383700 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid13636898 (9) }{\fs24\lang2057\langfe5129\langnp2057\insrsid2383700 In this }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5113638 section, any reference to officers or to agents shall include past, as well as present, officers or agents, as the case may be, and for the purposes of this section the expression }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5113638 agents}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5113638 , in relation to a company shall include the bankers and solicitors of the company and any person employed by the company as auditor, whether any such person is or is not an officer of the company. A}{\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 } {\fs24\lang2057\langfe5129\langnp2057\insrsid5113638 copy of any report of an inspector appointed }{\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 under this section, signed by the inspector and counter-signed by the Registrar, shall be admissible in any legal proceedings as evidence of the opinion of the inspector in relation to any matter contained in the report.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1736602 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 (10) Nothing in this section shall require disclosure to an inspector- \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1736602 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1736602 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602\charrsid1736602 (a}{\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 ) by a solicitor of any privileged communication made to him in that capacity, except as respects the name and address of his client; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1736602 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1736602 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 (b) by a Registered Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1736602 s bankers as such of any information as to the affairs of any of their customers other than}{\fs24\lang2057\langfe5129\langnp2057\insrsid9191566 the Registered Listed Company.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1736602 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1736602 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 (11) Any person who fails to obey an order of the Court made under subsection (5) requiring the production of any books or documents shall be guilty of contempt of Court and may be punished accordingly.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2383700 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1736602 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13636898 {\fs24\lang2057\langfe5129\langnp2057\insrsid1736602 (12) On the c onclusion of the investigation the inspector shall report his opinion to the Registrar, and a copy of the report shall be forwarded by the Registrar to the Registered Listed Company and to the head functionary of any Stock Exchange }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13193419 on which the Registered Listed Company is listed and a further copy may in his discretion, at the request of the applicants for the investigation, be delivered to them. On receipt of the report the Registered Listed Company may at its discretion publish the report generally or t he findings of the inspector thereunder.}{\fs24\lang2057\langfe5129\langnp2057\insrsid2383700 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid13193419 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13193419 {\fs24\lang2057\langfe5129\langnp2057\insrsid13193419 (13) All expenses of the incidental to the investigation shall be defrayed by the applicants, unless the Registrar directs that they be paid by the Registered Listed Company }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 or its officers if substantial }{\fs24\lang2057\langfe5129\langnp2057\insrsid13193419 wrongdoing }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 by such officers can be properly attributed t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13193419 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the}{\fs24\lang2057\langfe5129\langnp2057\insrsid13193419 m in the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 activities of the Registered Listed Compa}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 ny}{\fs24\lang2057\langfe5129\langnp2057\insrsid4815319 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1605529 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (14) The exercise of any discretion by inspector appointed pursuant to this section application }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1605529 shall, upon application }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 by the Registered Listed Company }{\fs24\lang2057\langfe5129\langnp2057\insrsid1605529 or any }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 person affected by the exercise of the discre}{\fs24\lang2057\langfe5129\langnp2057\insrsid1605529 tion, be}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 subject to appeal to the}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Court}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 which may make }{\fs24\lang2057\langfe5129\langnp2057\insrsid1605529 such orders }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 as it sees fit. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1605529 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126Z}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid1605529 Letters of understanding}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) Th}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 Cook }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Islands Monetary Board may at any time of its volition enter into letters of understanding }{\fs24\lang2057\langfe5129\langnp2057\insrsid1605529 with the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 relevant Minister or statutory or regulatory }{\fs24\lang2057\langfe5129\langnp2057\insrsid1605529 authority }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 invested with appropriate powers in any juris}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1605529 diction,}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 with respect to them cooperating with each }{\fs24\lang2057\langfe5129\langnp2057\insrsid1605529 other in the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of investigation or other lawful regulation of R}{\fs24\lang2057\langfe5129\langnp2057\insrsid1605529 egistered }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed Companies listed on the relevant Appro}{\fs24\lang2057\langfe5129\langnp2057\insrsid1605529 ved}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Exchange in that jurisdiction.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1186433 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Where the}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registrar considers it appr}{\fs24\lang2057\langfe5129\langnp2057\insrsid13794452 opriate, he}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 may apply to the Cook }{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Islands Monetary Board}{\fs24\lang2057\langfe5129\langnp2057\insrsid13794452 for such board}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to enter into the letters of understand}{\fs24\lang2057\langfe5129\langnp2057\insrsid4815319 ing as}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 contemplated by subsection (1) of this sectio}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid4815319 and}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Cook Islands Monetary Board shall consider su}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 ch}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 application of the Registrar and exercise its }{\fs24\lang2057\langfe5129\langnp2057\insrsid13794452 discretion }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 as to whether the application of the Registra}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid13794452 should be }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 approved. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16326413\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid13390782 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126AA}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid276458 Alternative remedy to winding up in}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid14765507 cases of}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid276458 oppressive or prejudicial conduct}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14765507 (1) Any member of a }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed Company who complains tha}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 affairs of the Registered Listed Company are being}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 conducted in a manner oppressive or prejudicial to the interests of some part of the members, including himself, or where a report has been made to the Registrar under section 126Y of this Act, the Registrar may make an application to the Court by petitio n for an order under this section. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) If on any such }{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 petition the Court is of }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 opinion: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 petition the Court}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 that the Registered Listed Comp}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14765507 any\rquote s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 affairs are being conducted as }{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 aforesaid;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid276458 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid276458 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 that to wind up the Registered Company would unfairly prejudic}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of the members, but otherwise t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14765507 he facts}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 would justify the making of a winding up }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 order on the ground that it was}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 just and}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 equitable that the Registered L}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 isted}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Company should be wound up; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Court may, with a view to bringing to an e}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 nd the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 matters complained of, make such order as it t}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 hinks fit,}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 whether for regulating the conduct of the Regi}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 stered}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed }{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 C}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ompany}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s affairs in future, or for th}{\fs24\lang2057\langfe5129\langnp2057\insrsid3814808 e }{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 purchase}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of the shares of any members of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 Registered Company by other m}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 embers of the Registered }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid4924831 Lis}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14765507 ed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid4924831 }{\field\fldedit{\*\fldinst {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid4924831 HYPERLINK http://or.by }{\fs24\lang2057\langfe5129\langnp2057\insrsid6185078\charrsid4924831 {\*\datafield 00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b1c00000068007400740070003a002f002f006f0072002e00620079002f000000000000000000cb0000e10000000000000500ff0c000000000000000000}}}{\fldrslt { \fs24\lang2057\langfe5129\langnp2057\insrsid4924831 or }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid4924831 by}}}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid4924831 the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registered Listed Company and, in th}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid14765507 case of a }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 purchase by the Re}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 g}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 istered Listed Company, for}{\fs24\lang2057\langfe5129\langnp2057\insrsid4924831 }{\fs24\lang2057\langfe5129\langnp2057\insrsid276458\charrsid13912697 reduction accordingly of the Registered Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458\charrsid13912697 s capital, or directing the Registered Listed }{ \fs24\lang2057\langfe5129\langnp2057\insrsid276458 C}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458\charrsid13912697 ompany to institute, prosecute, defend, or discontinue Court proceedings, or authorising a member or members of the Registered Lis}{ \fs24\lang2057\langfe5129\langnp2057\insrsid276458 ted Company to institute, prosec}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458\charrsid13912697 ute, defend, or disc}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 ontinue Court proceedings in the}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458\charrsid13912697 name of and on behalf of the Registered Listed Compan}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 y}{ \fs24\lang2057\langfe5129\langnp2057\insrsid276458\charrsid13912697 , or otherwise.}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) Where the conduct complained of ce}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ses after an application has been made to the Court bu}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 t before the Court has made an O}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 rder under this section th}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Court may,}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9787065 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 notwithstanding that the matters complained o}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 have been brought to an end, make any such order that t }{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 he}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Court may have made if the conduct complained of had no ceased. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (4) Where an order under this section }{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 m}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 akes an alteration in }{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 or addition to any Registered Li}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 sted Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s memorandum or articles, then, notwi}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 hstanding anything in any other provision but subject t the provisions of the order, the Registered L}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ste}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Company concerned shal}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9787065 l not have power without the lea}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ve of the Court to make further alteration in or additi}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9787065 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 n to the memorandum or articles as so altered or added to accordingly. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (5) A sealed copy of any order under this section altering or adding to, or giving leave to alter or add to, a Registered Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s memorandum or articles shall, within 30 days after the making thereof, be delivered by the Registered Listed Company to }{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 he Registrar for registration; and if a Registere}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Listed Company makes default in complying with this s}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 u}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 bsection, the Registered Listed Company and every office of the Registered Listed Company who is in default sh}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 all}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be liable to a default fine.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (6) In this section the term }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 member}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 in}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 cludes the legal personal }{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 representatives of a deceased me}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 mber, and every person to}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 whom shares of a member have be}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 en}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 transferred by operation of law.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126BB}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid276458 Preservation of the books and assets of a Registered Listed Company}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 (1) The Registra}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 r in any case where he has made an order under sub secti}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 n (1) of section 126}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 Y or where he has made an appli}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 cati}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 o}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 n under subsection (1) of section 126AA}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 may apply to t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14765507 h}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e Court ex parte for an or}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 der that the assets, books and p}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 apers of the Registered Listed Company be preserved and not moved.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) If on any such application the Court is satisfied that there is a likelihood that t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid4608072 he assets of the Company will be}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 transferred or that the boo}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 k}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s and papers of the Registered Listed Company may}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4608072 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 estroyed or removed it s}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 hall make an order that the asset}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s of the Registered Liste}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 d Company shall not be transfer}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507\charrsid13912697 red }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to any other person, removed from the Cook Islands or }{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 therwise de}{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 alt with and that }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the books or papers of the }{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 R}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 egistered Listed Company}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 hall not be destroyed or moved }{ \fs24\lang2057\langfe5129\langnp2057\insrsid4608072 u}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ntil a further order is made by the Court. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) Where a Registered Listed Company is served with an order u}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9787065 nd}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 er subsection (1) the Registered Listed Company may apply to the Court for the order to be discharged and the Court may: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) confirm the order; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) vary the order in such manner as it con}{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 s} {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 iders just; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid276458 (c) discharge the order; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid276458 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid276458 and in any case make such }{\fs24\lang2057\langfe5129\langnp2057\insrsid9787065 o}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 rders a}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 s it thinks desirable f}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 or the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14765507 preservation of the assets of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Registere}{\fs24\lang2057\langfe5129\langnp2057\insrsid4608072 d}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid14765507 Listed Company }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and the custody, }{ \fs24\lang2057\langfe5129\langnp2057\insrsid276458 inspection and copying of the books and papers of the Registered Listed Company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid276458 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid276458 {\fs24\lang2057\langfe5129\langnp2057\insrsid15076642 (4) The Registered Listed Company and any officer }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of }{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 the Registered Listed }{\fs24\lang2057\langfe5129\langnp2057\insrsid15076642 Company who acts in c ontravention of an order of the Court made}{\fs24\lang2057\langfe5129\langnp2057\insrsid276458 under subsections}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) or (3) shall be }{ \fs24\lang2057\langfe5129\langnp2057\insrsid276458 guilty of contempt of }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Court.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848083 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15148841 {\fs24\lang2057\langfe5129\langnp2057\insrsid15148841 126CC}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15148841 }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid15148841 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15148841\charrsid15148841 True and fair accounts}{\fs24\lang2057\langfe5129\langnp2057\insrsid15148841 }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid15148841 (1) Every balance sheet of a }{ \fs24\lang2057\langfe5129\langnp2057\insrsid1401214 Registered Listed Company shall give a true and fair view of the state of affairs of the company as the end of its financial year, and every profit and loss account of a Registered Listed Company shall give a true and fair view of the profit and loss account of the company for the financial year.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15148841 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1401214 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15148841 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 (2) Subsection (1) of this section shall not apply to a Registered Listed Company}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 s profit and loss account if }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1401214 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1401214 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 (a) the company has subsidiaries; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid15148841 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1401214 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid1401214 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 (b) the profit and loss account is framed as a consolidated profit and loss account dealing with all or any of the company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 s subsidiaries as well as the company and shows how much of the consolidated profit or loss for the financial year is}{\fs24\lang2057\langfe5129\langnp2057\insrsid15076642 dealt with in the accounts of the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid1401214 company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid1401214 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid1401214 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 (3) Any person being a director of a Registered Listed Company who fails to take all reasonable steps to secure compliance }{\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 as respects}{\fs24\lang2057\langfe5129\langnp2057\insrsid15076642 to}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9835643 any accounts laid before the company in general meeting with the provisions of this section commits an offence and sha ll, in respect of each offence, be liable on conviction to imprisonment for 6 months and to a fine of $10,000;}{\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9835643 {\fs24\lang2057\langfe5129\langnp2057\insrsid15148841 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15148841 {\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 Provided that -}{\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9835643 {\fs24\lang2057\langfe5129\langnp2057\insrsid1401214 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid9835643 {\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 (a) in any proceedings against a person in respect of an offence under this section, it shall be a defence to prove that he had reasonable ground to believe and did believe that a competent and reliable person was charged with the duty of seeing that the said provisions were complied with and was in a position to discharge that duty; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9835643 {\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid9835643 {\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 (b) a person shall not be sentenced to impriso nment for any such offence unless, in the opinion of the Court dealing with the case, the }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 offence was committed wilfully.}{\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15148841 {\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 (4) For the purposes of this section, except where the context otherwise}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9444885 requires }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9444885 {\fs24\lang2057\langfe5129\langnp2057\insrsid9835643 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid9444885 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848083 (a) any reference to a balance sheet or profit a nd loss account shall include any notes thereon or document annexed thereto; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5848083 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848083 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid5848083 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848083 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid9444885 any reference to a profit and loss account shall be taken, in the case of a company not trading for profit, as referring to its income and expenditure account and references to a profit, as referring to its income and expenditure or to loss }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15076642 and,}{\fs24\lang2057\langfe5129\langnp2057\insrsid9444885 if the company has subsidiaries, references to }{\fs24\lang2057\langfe5129\langnp2057\insrsid15148841 a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9444885 consolidated profit and loss account shall be construed accordingly.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5848083 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5848083 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid132519 {\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid9191566 DIVISION 3 }{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid9191566 -}{ \b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid9191566 DEREGIST}{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid9191566 R}{\b\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid9191566 ATION \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid132519 {\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid132519 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126DD}{\fs24\lang2057\langfe5129\langnp2057\insrsid132519 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid132519 Application for deregistration}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) An Registered Listed Company may apply to the Registrar to cease to be registered pursuant to section 126E of }{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 this Act if the following requirements are}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 satisfied:}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) all shareholders of the company have been notified;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) a resolution approving the application has been passed by shareholders of the company who together hold in aggregate not less than 90 percent of the total votes of the members present (e}{\fs24\lang2057\langfe5129\langnp2057\insrsid15076642 ither in person or by proxy) an}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 d entitled to vote on that resol ution and ho together hold in aggregate not less than 75 percent of the total votes of all member of the company entitled to vote on such a resolution; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (c) the company has not more than 45 days an not less than 30 days prior to lodging the application published a notice in an approved}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 newspaper in each of the jurisdictions i which the company trades or conducts its business stating the company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s intention to cease to be registered under section 126 of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (d) the Registrar is satisfied that all regu latory or other requirements in the jurisdiction in which the Registered Listed Company maintains previously or previously maintained its primary listing have been satisfied. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid132519 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) The application to the Registrar shall be made in the prescribed form and sh all be lodged with the Registrar together with evidence to the satisfaction of}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Registrar of the requirements prescribed in subsection (1) of thi}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 s section and the prescribed fee}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16730668 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 126EE}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16730668 Registrar}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15406690 '}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16730668 s duties}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) On compliance }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 with the requirements for deregistration the Registrar shall enter on the certificate of incorporation of the company or the certificate of continuance as the case may be a Minute that the company has ceased to be registered pursuant t section 126E of thi s Act and shall sign the Minute and state therein the date thereof. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16730668 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) The completed Minute shall be conclusive evidence that all the requirements of this Division of this Part of this Act in respect of deregistration and of matters}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 precedent and incidental thereto have been complied with and that the company has ceased to be a Registered Listed Company.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 10. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 PART VII }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid8337659 -}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid8337659 Arrangements and Recon}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 structions}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid8337659 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 Part VII of the p}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 rincipal Act is hereby amended b}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 y inserting the following new sections:}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690\charrsid8337659 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 129A}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid15406690 Amalgamation }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid15406690 o}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid15406690 f companies}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid8337659 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 (1) Two or mor}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid8337659 e }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 companies, at least one of which is an international company and all of which are registered in the Cook}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 Islands including holding and subsidiary companies, may subject to the consent of the Court given in its discretion amalgamate and continue as one international company.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690\charrsid8337659 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Each company proposing to amalgamate shall enter into an agreement setting out the terms and means of effecting the amalgamation and, in particular, setting }{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 out:}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13847588\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid13847588\charrsid13912697 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the provisions that are required included in the memorandum; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the name and address}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of each proposed director of the amalgamated international company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (c) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the manner in which the shares of each amalgamati}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 ng company are to be converted to}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 shares or other securities of the amalgama}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8337659 te}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 international company;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (d) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 if any shares of an amalgamating company a}{\fs24\lang2057\langfe5129\langnp2057\insrsid15076642 re}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 not to be converted into securities by the amalgamated international company, the amo}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 unt}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of money or securities that the holders of such shares are to receive in addition to}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 instead of securities of the amalgamated international company;}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (e) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the manner of payment of money instead of issue of fractional shares of the amalgama}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 ting}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 international company or of any other securities which are to be received in the amalgamation;}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 (f}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 ) }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 whether the articles of the amalgamated international company are to be those of o}{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 ne}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of the amalgamating companies and, if not, }{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 a }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 copy of the proposed articles; }{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 (g)}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 details of any arrangements necessary to perfect the amalgamation and to provide fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the subsequent management and operation of the amalgamated international company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) If shares of one of the amalgamating compan}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 y}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 are held by or on behalf of another of the amalgamatin}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 g}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 companies, the amalgamation agreement shall provide fo}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the cancellation of such shares when the amalgamation}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 becomes effective without any repayment of capital in respect thereof, and no provision shall be made in the agreement for the conversion of such into shares of th}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 amalgamated international company.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (4) The directors of each amalgamating company shall submit the amalgamation agreement for approval t meeting of the holders of shares of the amalgamating}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 company of which they are directors and to the holders each class or series of such shares. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (5) A notice of a meeting of shareholders complying with section 99 of this Act shall be sent accordance with that section to each shareholder of amalgamating company, and shall:}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (a) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 include or be accompanied }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 b}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 y a copy or summary of the amalgamatio}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 n}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 agreement; and}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 state that a dissenting sh}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 reholder is entitled to be paid the fair value of his shares, but failure to mak}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 that statement shall not invalidate an amalgamation. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (6) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Each sha}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 re}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of an amalgamat}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 i}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ng company shall carry the right to vote in respect o}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 f}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 an amalgamation whether or not it otherwise carries the right to vote. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (7) }{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 An amalgamation agreement shall }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be deemed to have been adopted when it has been approved by the shareholders as provided in this section.}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (8) Any shareholder not satisfied that he has be paid fair value for his shares may apply to the Court f the proper valuation of his shares and section 126W of this Act shall apply m}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 u}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 tatis mutandis to such applicati}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 on}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 as if the company were a Registered Listed Company unde}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Part VIA of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (9) An amalgamation}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 agreement}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 may}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 provide that any time before the issue of a certificate of amalgamation the agreement may be terminated by the directors of an amalgamating company, notwithstanding approval of the agreement by the shareholders of all or any of the amalgamating companies. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 129}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 B}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 Short form amalgamation}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) An international company which is a holding company and one or more of its wholly}{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 owned subsidiary companies which}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 are international companies may amalgamate and continue as one company without complying with section 129A if:}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) the amalgamation is approved by a resolution of the directors of each amalgamating company; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) the resolutions provide that: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (i) the shares of each amalgamating subsidiary company shall be cancelled without any repayment of capital in respect thereof; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (ii) the memorandum of association shall b}{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 e }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the same as the memorandum of the amalgamating international company; an}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 d \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (iii) no securities shall be issued by the amalgamated company in connection with the amalgamation. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 129C}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 Registration of amalgamated companies}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) Subject to subsections (2) and (3) of this section after the amalgamation of companies has been adopted, the amalgamated company shall on application be registered by the Registrar and a certificate of incorporation issued to the amalgamated company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Any application for the registration }{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 of an amalgamated company shall be}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 accompanied }{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 by: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) the consent of the Court except application is pursuant to}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 this Act; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) the registered company;}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (c) the memorandum of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 amalgama ted company}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 ;}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (d) the statutory declarations referred subsection (3). \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) An application for registration of an amalgamated company shall have attached thereto a statutory declaration by a director of each amalgamating company that establishes that:}{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid9387083 {\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 there are reasonable}{ \fs24\lang2057\langfe5129\langnp2057\insrsid9387083 ground for }{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 believing }{\fs24\lang2057\langfe5129\langnp2057\insrsid291349\charrsid13912697 that}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 : \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid9387083 {\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 (i) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 e}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 ach amalgamating company is and the amalgamated company wil}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 l be able to pay its liabilities (includin}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 g}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 contingent liabilities) as they}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 b}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ecome due; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid291349 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (i}{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 i}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 ) }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the realisable value of the amalgamated company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s assets will not be less than the aggregate of its liabilities and stated capita}{\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 l}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of all classes; and}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid291349 {\fs24\lang2057\langfe5129\langnp2057\insrsid9387083 (b}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 ) }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 there }{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659\charrsid13912697 are reasonable grounds for believ}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 ing }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 that:}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid291349 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (i)}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 no creditor will be prejudiced by the amalgamation; or}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid291349 {\fs24\lang2057\langfe5129\langnp2057\insrsid291349 (ii}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) adequate}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 notice}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 has been given to all known creditors of the amalgamating companies and no creditor objects to the amalgamation otherwise than on grounds that are frivolous or vexatious. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (4) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 For the purposes of subsection (3) adequate all known creditors of the amalgamating shall be deemed to be given if: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid14749638 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid14749638 (}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a) a notice in writing is sent to each creditor having a claim against the company that exceeds $1,000; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid14749638 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (b) }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a notice is published in a newspaper each of the jurisdictions where the company trades or conducts its business stating that the company intends to amalgamate with one or more specified companies in accordance with this Act an that a creditor of the comp any may objec}{\fs24\lang2057\langfe5129\langnp2057\insrsid16407204 t}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to the amalgamation within 30 days from the date of the notice.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 129D}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 Effect of certificate of amalgamated companies}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) On the date shown in}{ \fs24\lang2057\langfe5129\langnp2057\insrsid8337659 the }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 certificate of amalgamation: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a)}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid291349 the amalgamation of the}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 }{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 amalgamating companies and their continuance as one company shall become effective}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (b) the property of each amalgamating company shall become the property of the amalgamated company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 (c) the amalgamated company shall continue to be liable for the obligations of each amalgamating company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (d) an existing cause of action, claim or liability to prosecution shall be unaffected;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (e) a civil, criminal or administrative actin}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 g}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 or proceeding pending by or against an amalgamating company may be continued to}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be prosecuted by or against the amalgamated company;}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (f) a conviction against, or}{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 ruling, order or }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 judgment in favour of or }{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 against an }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 amalgamating company may }{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 be enforced by or }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 a}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 gainst the amalgamated company; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (g) the memorandum of amalgamation shall be deemed t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid2257024 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be the memorandum of the amalgamated company and the certificate amalgamation shall be deemed to be the certificate of incorporation of the amalgama}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ed company. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 130A}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16209079\charrsid8337659 Power to }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8337659 acquire shares of shareholders dissenting from scheme }{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid16209079\charrsid8337659 or contract approved by majority}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 - }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (1) Where an offer involving the transfer of shares or any class of shares in an international company (in this section referred to as }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the transferor company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) t}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 another person (in this section referred to as the }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 acquirer}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) has within 4 months after the making of the offer }{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 has }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 approved by the holders of not less than 90% in value of the shares whose transfer is involved (othe}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 than shares already held at t}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 he}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 date of the offer by, o}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 by a nom inee for, the acquirer) the acquirer may, at any time within 2 months after the expiration of the said 4 months, give notice to any dissenting shareholder that the acquirer desires to acquire the dissenting shareholder}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s shares. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) When such a notice is given the acquirer shall, unless on an application made by a dissenting shareholder within 1 month from the date on which the}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 notice was given the Court thinks fit to order otherwise be entitled and bound to acquire all the shares of the dissenting shareho lders on the terms on which under the offer, the shares of the approving shareholders are (or were) to be transferred to the acquirer. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (3) Where, in pursuance of any such offer, shares in an international company are transferred to an acquirer and those s hares together with any other shares in the international company held by or for the acquirer at the date of the transfer comprise or include 90 percent in value of the shares in the international company or of any class of those shares, then: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) the acquirer shall within 1 month from th}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16209079 e}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 date of transfer, give notice of that fac}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 t}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 to the holders of the remaining shares of that class who have not assented to the}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 scheme; and \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) any such holder may within 3 months from the giving of the notice to him, hims elf give notice requiring the acquirer to}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 acquire the shares in question,}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and where a shareholder gives notice under paragraph (b) of this subsection with respect to any sha res the acquirer shall be entitled and bound to acquire those shares on the terms on which under the scheme the shares of the approving shareholders were transferred to the acquirer, or on such}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 other terms as may be agreed or as the Court on the application of either the acquirer or the shareholder thinks fit to order. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (4) Where a notice has been given by the acquirer under subsection (1) of this section and the Court has not, on an application made by a dissenting shareholder, ordered to the contrary the acquirer shall, on the expiration of 1 month from the date on which the notice has been given, or, if }{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 an}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 application to the Court by a dissenting shareholder i}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 s}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 then pendin}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 g}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 , afte}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 r that application has been disp}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 osed of, transmit a copy of the notice to the transferor company together w}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 ith an instrument of transfer ex}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ecuted on behalf of the shareholder by any perso}{\fs24\lang2057\langfe5129\langnp2057\insrsid2257024 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 appointed by the}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 on its own behalf by the acquirer, an}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 d pay the transferor company the }{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 amount or other}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 consideration}{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 representing the price}{\fs24\lang2057\langfe5129\langnp2057\insrsid8337659 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 payable by the acquirer for the}{\fs24\lang2057\langfe5129\langnp2057\insrsid291349 shares by the virtue}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of this section the acquirer is}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 entitled to acquire, and the transferor company sh}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16209079 all}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 thereupon register the acquirer as the holder of those shares. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (5) Any sums received by the transferor com}{\fs24\lang2057\langfe5129\langnp2057\insrsid10882633 p }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 any under this section }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 shall be paid into a separate ba}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 nk account, and any s}{\fs24\lang2057\langfe5129\langnp2057\insrsid10882633 uch sums and any other consideration shall be}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 held by that company on trust fo}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16209079 r}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the several persons entitled to the shares in respect }{\fs24\lang2057\langfe5129\langnp2057\insrsid10882633 o}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 f which the said sums}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16209079 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 other consideration were respectively received. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (6) In this section, except insofar as the}{\fs24\lang2057\langfe5129\langnp2057\insrsid10882633 context}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 or subject matter o}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 therwise indicates or requires:}{\fs24\lang2057\langfe5129\langnp2057\insrsid4859758 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid4859758 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 dissenting shareholder}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 includes a shareholder who has not assented to the scheme or contract and any shareholder who has failed or re fused o transfer his shares to the acquirer in accordance with the scheme or contract; }{\fs24\lang2057\langfe5129\langnp2057\insrsid4859758 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid4859758 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid15406690 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 nominee}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 includes any person acting }{\fs24\lang2057\langfe5129\langnp2057\insrsid10882633\charrsid13912697 jointly }{ \fs24\lang2057\langfe5129\langnp2057\insrsid10882633 or in }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 concert with the acquirer (including any r}{\fs24\lang2057\langfe5129\langnp2057\insrsid4859758 elated}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 companies of the concert party who are or habitually act in concert with the acquire}{\fs24\lang2057\langfe5129\langnp2057\insrsid4859758 r}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10882633 )}{\fs24\lang2057\langfe5129\langnp2057\insrsid4859758 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid4859758 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16143926 11. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid16143926\charrsid8148291 PART XII - }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid8148291 Shares and Debentures}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16143926 The title to }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Division 1 of Part XII of the principal Act }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 is hereby amended by }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 adding the words }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and Application}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 . \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2) Division 1 of Part XII of the principal Act is hereby further amended by a}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 dding a new section 229A as follows: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 229A}{ \fs24\lang2057\langfe5129\langnp2057\insrsid14430334 .}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16209079 Non}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid16209079 -}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16209079 application of Division 2 where prospectu}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid16209079\charrsid16209079 s}{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16209079 registered in approved jurisdiction}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Division 2 of Part of this Act shall have no application to any invita tion, prospectus or advertisement where a prospectus in connection with the issue of shares or debentures in or the depositing or lending of money or to an international company as the case may be ha}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 s }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 been registered in any jurisdiction in which is loca}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 ted}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 an Approved Stock Exchange as defined in section 126 this Act: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Provided that within 28 days of registering or filing the prospectus in the relevant jurisdiction a copy of such prospectus has been delivered to the registered office of the internat}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 ional co mpany and a duplicate co}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 py signed by at least 2 directors of the international company has been delivered to the Registrar who shall forthwith file such duplicate prospectus on the international company}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 '}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 s file at his office.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 12. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16209079 Registration of Prospectus}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Paragraph (c) of subsection (2) of section 236 of the principal Act is hereby amended by inserting after the word }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 prospectus}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and before t}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 he}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 word }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 or}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the words }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and of all material contracts referred t}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 o in}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the prospectus} {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 . \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 13. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16209079 Minimum subscriptions}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section 240 of the principal Act is hereby amended by addi}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 ng a new subsection as follows: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (10) None of the provisions of subsections (1) to (9}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 )}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (both inclusive) of this section shall have a}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16209079 n}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 y application in any case where Division 2 of t}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 h}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 is Part }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 has }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 no application by virtue of section 229A.}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 14. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16209079 Application moneys to be held in trust until al}{ \fs24\ul\lang2057\langfe5129\langnp2057\insrsid16209079\charrsid16209079 lotment}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16209079 Se}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ction 241 of the principal Act is hereby amended by: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16083669 {\fs24\lang2057\langfe5129\langnp2057\insrsid14430334 (a}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ) the words }{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 in any case where Division 2 o}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 f}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 this }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Part has no application by virtue of section }{ \fs24\lang2057\langfe5129\langnp2057\insrsid16083669\charrsid13912697 this 29A}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid16083669\charrsid13912697 ;}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16083669 and}{\fs24\lang2057\langfe5129\langnp2057\insrsid16083669\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid16083669 {\fs24\lang2057\langfe5129\langnp2057\insrsid16083669 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid16083669 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) Adding to subsection (3) the words }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 and, in a case where Division 2 of this Part has no application by virtue of section 229A, shall}{\fs24\lang2057\langfe5129\langnp2057\insrsid10882633 also}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 mean any bank in any jurisdiction in which is located an Approved Stock Exchange as defined section 126A of this Act the name of which ha}{ \fs24\lang2057\langfe5129\langnp2057\insrsid10882633 s been}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 notified by the relevant official of that jurisdiction responsible for regulating banks the Registrar that such bank is an approved b}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 ank.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 15. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16209079 Contents of trust deed}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Subsection (1) of secti}{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 on}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 243 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 of the principal Act is hereby amended by adding the follow proviso:}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Provided that in any case where Division 2 of this }{\fs24\lang2057\langfe5129\langnp2057\insrsid16209079 Part }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 has no application by virtue of section 229A paragraph (d) of this subsectio}{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 n shall not apply compulsorily }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 but may apply at the election of the borrowing company.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13912697\charrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 16. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16209079 Duties of trustee company}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section 244 of the principal Act is}{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13912697\charrsid13912697 hereby amended by adding a new subsection a}{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 s }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 follows:}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (9) In any case where Division 2 of this Part has}{\fs24\lang2057\langfe5129\langnp2057\insrsid10882633 no}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 application by virtue of section 229A:}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13912697\charrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (a) The references to }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Registrar}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 in subsec}{ \fs24\lang2057\langfe5129\langnp2057\insrsid13912697 tions}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (2), (3), (4), (5) and (6) of this section }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 shall }{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 be deemed to be references to }{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 the Court}{ \fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 ;}{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 (b) The Court may order that all or any actions }{ \fs24\lang2057\langfe5129\langnp2057\insrsid13912697 or }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 proceedings before the Court by or against borrowing company be stayed in lieu of the}{ \fs24\lang2057\langfe5129\langnp2057\insrsid16407204 }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 direction prescribed in paragraph (b) of subsection (4) of this section.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10646630 {\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 17. }{\fs24\ul\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid16407204 Proper law}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 }{ \fs24\lang2057\langfe5129\langnp2057\insrsid2169763\charrsid13912697 -}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Section 245 of the principal Act hereby amended by adding the following proviso:}{ \fs24\lang2057\langfe5129\langnp2057\insrsid5272918 \par }{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697\charrsid13912697 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10882633 {\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid5272918\charrsid13912697 Provided that this section shall have no application in any case where Division 2 of this Part has no application by virtue of section 229A.}{\fs24\lang2057\langfe5129\langnp2057\insrsid15406690 "}{\fs24\lang2057\langfe5129\langnp2057\insrsid13912697 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid10882633 \par }\pard \qc \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10882633 {\b\fs24\lang2057\langfe5129\langnp2057\insrsid10882633 ---------------------------------------------- \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid9191566 {\fs24\lang2057\langfe5129\langnp2057\insrsid9191566 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid10882633 {\fs24\lang2057\langfe5129\langnp2057\insrsid10882633\charrsid13912697 This Act is administered by the Cook Islands Monetary Boar}{ \fs24\lang2057\langfe5129\langnp2057\insrsid3814808 d}{\fs24\lang2057\langfe5129\langnp2057\insrsid10882633\charrsid13912697 \par }}