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107.
Arrears to be paid notwithstanding forfeiture or surrender
A person any of whose shares have been forfeited or surrendered shall cease to be a
member in respect of the forfeited or surrendered share and shall surrender to the
Company for cancellation any certificate for the share forfeited or surrendered, but shall
remain liable (unless payment is waived in whole or in part by the board) to pay to the
Company all moneys payable by him on or in respect of that share at the time of forfeiture
or surrender, together with interest from the time of forfeiture or surrender until payment
at such rate as the board shall decide, in the same manner as if the share had not been
forfeited or surrendered. He shall also be liable to satisfy all the claims and demands (if
any) which the Company might have enforced in respect of the share at the time of
forfeiture or surrender. No deduction or allowance shall be made for the value of the
share at the time of forfeiture or surrender or for any consideration received on its
disposal.
SEAL
108.
Seal
(1)
The Company may exercise the powers conferred by the Statutes with regard to having
official seals and those powers shall be vested in the board.
(2)
The board shall provide for the safe custody of every seal of the Company.
(3)
A seal shall be used only by the authority of the board or a duly authorised committee but
that authority may consist of an instruction or approval given in hard copy form or in
electronic form by a majority of the directors or of the members of a duly authorised
committee.
(4)
The board may determine who shall sign any instrument to which a seal is applied, either
generally or in relation to a particular instrument or type of instrument, and may also
determine, either generally or in any particular case, that such signatures shall be
dispensed with or affixed by mechanical means.
(5)
Unless otherwise decided by the board:
(a)
certificates for shares, debentures or other securities of the Company issued under
seal need not be signed; and
(b)
every other instrument to which a seal is applied shall be signed by at least one
director and the secretary or by at least two directors or by one director in the
presence of a witness who attests the signature.
DIVIDENDS AND DISTRIBUTIONS
109.
Distributions
(1)
The board may authorise and pay distributions at any time in accordance with the
Statutes.
(2)
In addition to the powers conferred on the board by paragraph
subject to the
provisions of the Statutes and these articles, a distribution may be declared and paid as a
dividend. A distribution declared and paid in accordance with the provisions of articles
or
and identified as a dividend shall be a dividend.
110.
Declaration of dividends by the Company
Subject to the provisions of the Law, the Company may, by ordinary resolution, declare a
dividend to be paid to the members, according to their respective rights and interests, and
