LTN20170323293
LTN20170323293
LTN20170323293
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Destructionof<br />
registrable<br />
documents,<br />
etc.<br />
23.2 TogiveeffecttoanysalecontemplatedbyArticle23.1theCompanymayappointanyperson<br />
toexecuteastransferoraninstrumentoftransferofthesaidsharesandsuchother<br />
documentsasarenecessarytoeffectthetransfer, andsuchdocumentsshallbeaseffective<br />
asifithadbeenexecutedbytheregisteredholderoforpersonentitledbytransmissionto<br />
suchsharesandthetitleofthetransfereeshallnotbeaffectedbyanyirregularityorinvalidity<br />
intheproceedingsrelatingthereto. ThenetproceedsofsaleshallbelongtotheCompany<br />
whichshallbeobligedtoaccounttotheformermemberorotherpersonpreviouslyentitled<br />
asaforesaidforanamountequaltosuchproceedsandshallenterthenameofsuchformer<br />
memberorotherpersoninthebooksoftheCompanyasacreditorforsuchamount. Notrust<br />
shallbecreatedinrespectofthedebt, nointerestshallbepayableinrespectofthesame<br />
andtheCompanyshallnotberequiredtoaccountforanymoneyearnedonthenetproceeds,<br />
whichmaybeemployedinthebusinessoftheCompanyorinvestedinsuchinvestments<br />
otherthansharesorothersecuritiesinoroftheCompanyoritsholdingcompanyifany) or<br />
astheBoardmayfromtimetotimethinkfit.<br />
24 DocumentDestruction<br />
24.1 TheCompanyshallbeentitledtodestroyallinstrumentsoftransfer, probate, lettersof<br />
administration, stopnotices, powersofattorney, certificatesofmarriageordeathandother<br />
documentsrelatingtooraffectingtitletosecuritiesinoroftheCompany ("Registrable<br />
Documents") whichhavebeenregisteredatanytimeaftertheexpirationofsixyearsfrom<br />
thedateofregistrationthereofandalldividendmandatesandnotificationsofchangeof<br />
addressatanytimeaftertheexpirationoftwoyearsfromthedateofrecordingthereofand<br />
allsharecertificateswhichhavebeencancelledatanytimeaftertheexpirationofoneyear<br />
fromthedateofthecancellationthereofanditshallconclusivelybepresumedinfavourof<br />
theCompanythateveryentryintheregisterifpurportingtohavebeenmadeonthebasisof<br />
aninstrumentoftransferorRegistrableDocumentsodestroyedwasdulyandproperlymade<br />
andeveryinstrumentoftransferorRegistrableDocumentsodestroyedwasavalidand<br />
effectiveinstrumentordocumentdulyandproperlyregisteredandeverysharecertificateso<br />
destroyedwasavalidandeffectivecertificatedulyandproperlycancelledandeveryother<br />
documenthereinbeforementionedsodestroyedwasavalidandeffectivedocumentin<br />
accordancewiththerecordedparticularsthereofinthebooksorrecordsoftheCompany,<br />
providedalwaysthat:<br />
a) theprovisionsaforesaidshallapplyonlytothedestructionofadocumentingood<br />
faithandwithoutexpressnoticeoftheCompanyofanyclaim (regardlessofthe<br />
partiesthereto) towhichthedocumentmightberelevant;<br />
b) nothinghereincontainedshallbeconstruedasimposingupontheCompanyany<br />
liabilityinrespectofthedestructionofanysuchdocumentearlierthanasaforesaid<br />
orinanyothercircumstanceswhichwouldnotattachtotheCompanyintheabsence<br />
ofthisArticle; and<br />
c) referenceshereintothedestruction ofanydocumentincludereferencestothe<br />
disposalthereofinanymanner.<br />
24.2 NotwithstandinganyprovisioncontainedintheseArticles, theDirectorsmay, ifpermittedby<br />
applicablelaw, authorisethedestructionofanydocumentsreferredtointhisArticleorany<br />
otherdocumentsinrelationtoshareregistrationwhichhavebeenmicrofilmedor<br />
electronicallystoredbytheCompanyorbytheshareregistraronitsbehalfprovidedalways<br />
thatthisArticleshallapplyonlytothedestructionofadocumentingoodfaithandwithout<br />
expressnoticetotheCompanythatthepreservationofsuchdocumentmightberelevantto<br />
aclaim.
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