(vii)

5.

5.1

5.2

5.3

5.4

5.5

6.

6.1

6.2

(b) If there is a tie in voting, the Chairman of the Committee of Discipline or a sub-

committee thereof shall not have a casting vote.

The Board of Directors may draw up such regulations as are necessary and expedient to

govern the conduct of proceedings by the Committee of Discipline or a sub-committee

thereof.

SHARES

The authorised share capital of the Society shall be $1,500,000 which shall be divided

into 1,500,000 shares of $1.00 each. The capital of the Society may be 4.lcreased from

time to time by a resolution of the general meeting of the Society. .

The Founder Member shall hold all of the shares of the Society.

The Society shall keep a register showing the number of shares held by the Founder

Member.

Ownership of the shares in the Society shall be evidenced solely and exclusively by the

entries in the Society's register of shareholders. A written confirmation of such

ownership may be issued from time to time by the Society.

In the case of the dissolution or deregistration of the Founder Member, the Society

shall :

(a) redeem the shares held by the Founder Member and pay the authorised or legal

representative of the defunct body; or

 

(b) transfer the shares held by the Founder Member as the Society may deem fit, by

making the appropriate entry in the Society's register of shareholders.

GENERAL MEETING

The supreme authority of the Society shall be vested in the general meeting of members.

Every member who is not otherwise disqualified is entitled to be present or be

represented at any general meeting of the Society in accordance with By-Law 6.12.

There shall be two kinds of general meetings, an Annual General Meeting and an

Extraordinary General Meeting.

10