Article 18 - Allotment of Shares
(1) An Investment Club's director may, if authorised in accordance with Article 18 (2), offer, allot, grant options over or otherwise dispose of the Investment Club's unissued Shares to a person, at a time and on terms that the directors determine.
(2) A disposal of Shares under Article 18(1) must be authorised by a Special Resolution of Members unless the Investment Club's articles of association provide for an Ordinary Resolution.
(3) A disposal of Shares under Article 18(1) is subject to:
a. any limitation of provision to the contrary in the Investment Club's articles of association; and
b. any rights previously conferred on the holders of any existing Shares or class of Shares.
|Derived (as from 20th December 2016).|