Article 31 - Dividends and Other Distributions
(1) Subject to any limitations or provisions to the contrary in its articles of association, an Investment Club may, by a resolution of its directors, declare and pay or make dividends or other distributions in money, Shares or other property.
(2) An Investment Club shall not declare, make or pay any dividend or other distribution if there are reasonable grounds for believing that:
a. the Investment Club would after the payment of the dividend or making of the distribution be unable to satisfy its Liabilities as they become due; or
b. the realisable value of the Investment Club's assets would thereafter be less than the aggregate of its Liabilities and its issued Share capital.
|Derived (as from 20th December 2016).|