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Classification: General
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137.
136.
Powers to distribute
in specie
If the Company is in liquidation, the liquidator may, with the authority of a special
resolution of the Company and any other authority required by the Statutes:
(a)
divide among the members
in specie
the whole or any part of the assets of the
Company and, for that purpose, value any assets and determine how the division
shall be carried out as between the members or different classes of members; or
(b)
vest the whole or any part of the assets in trustees upon such trusts for the benefit
of members as the liquidator, with the like sanction, shall think fit but no member
shall be compelled to accept any assets upon which there is any liability.
INDEMNITY AND INSURANCE, ETC
138.
137.
Directors' indemnity, insurance and defence
As far as the Statutes allow, the Company may:
(a)
indemnify any director of the Company (or of an associated body corporate)
against any liability;
(b)
indemnify a director of a company that is a trustee of an occupational pension
scheme for employees (or former employees) of the Company (or of an associated
body corporate) against liability incurred in connection with the company's
activities as trustee of the scheme;
(c)
purchase and maintain insurance against any liability for any director referred to in
(a) or (b) above; and
(d)
provide any director referred to in (a) or (b) above with funds (whether by loan or
otherwise) to meet expenditure incurred or to be incurred by him in defending any
criminal, regulatory or civil proceedings or in connection with an application for
relief (or to enable any such director to avoid incurring such expenditure).
The powers given by this article shall not limit any general powers of the Company to grant
indemnities, purchase and maintain insurance or provide funds (whether by way of loan or
otherwise) to any person in connection with any legal or regulatory proceedings or
applications for relief.