COMPANIES ACT, 1929

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37. The company may by ordinary resolution—

(a) Consolidate and divide all or any of its share capital into
shares of larger amount than its existing shares; ¥
Sub-divide its existing shares, or any of them, into shares
of smaller amount than is fixed by the memorandum of
association subject, nevertheless, to the provisions of
section 50 (1) (d) of the Act;

Cancel any shares which, at the date of the passing of the
resolution, have not been taken or agreed to be taken
by any person.

38. The company may by special resolution reduce its share
capital and any capital redemption reserve fund in any manner
and with, and subject to, anv incident authorised. and consent
required, by law.

a

General Meetings.

39. A general meeting shall be held once in every calendar
year at such time (not being more than fifteen months after the hold-
ing of the last preceding general meeting) and place as may be
prescribed by the company in general meeting, or, in default,
at such time in the third month following that in which the anniver-
sary of the company’s incorporation occurs, and at such place, as
the directors shall appoint. In default of a general meeting being
so held, a general meeting shall be held in the month next following,
and may be convened by any two members in the same manner as
nearly as possible as that in which meetings are to be convened
bv the directors.
40. The above-mentioned general
ordinary general meetings; all other
called extraordinary general meetings

41. The directors may, whenever they think fit, convene an
extraordinary general meeting, and extraordinary general meetings
shall also be convened on such requisition, or, in default, may be
convened by such requisitionists, as provided by section 114 of the
Act. If at any time there are not within the United Kingdom
sufficient directors capable of acting to form a quorum, any director
or any two members of the company may convene an extraordinary
general meeting in the same manner as nearly as possible as that
in which meetines mav be convened bv the directors

Notice of General Meetings.

42. Subject to the provisions of section 117 (2) of the Act relating
to special resolutions, seven days’ notice at the least (exclusive of
the day on which the notice is served or deemed to be served, but
inclusive of the day for which notice is given) specifying the place,
the day, and the hour of meeting and, in case of special business,
the general nature of that business shall be given in manner herein-
after mentioned, or in such other manner, if any, as may be pre
scribed bv the company in general meeting. to such persons as are