Individual responsibility of Directors

178.

Subject to the provisions of the Companies Act, no Director, auditor or other officer of the Company
shall be liable for the acts, receipts, neglects or defaults or any other Director or Officer, or for joining
in any receipt or other act for conformity or for any loss or expense happening to the Company through
the insufficiency or deficiency of title to any property acquired by order of the Directors for or on
behalf of the Company, or for the insufficiency or deficiency of any security in or upon which any of
the moneys of the Company shall be invested, or for any loss or damage arising from the bankruptcy,
insolvency or tortious act of any person with whom any moneys, securities or effects shall be deposited
or for any loss occasioned by any error of judgement, omission, default or oversight on his part or for
any other loss, damage or misfortune whatever, which shall happen in relation to the execution of the
duties of his office or in relation thereto unless the same happen through his own dishonesty.

WINDING UP

Distribution of Assets

179.

If the Company is to be wound up and the assets available for distribution among the Members as such
are insufficient to repay the whole of the paid-up capital, such assets shall be distributed so that as
nearly as may be, the losses shall be borne by the Members in proportion to the capital paid-up, or
which ought to have been paid-up, at the commencement of the winding up, on the shares held by them
respectively. And if in winding up, the assets available for distribution among the Members are more
than sufficient to repay the whole of the capital paid up at the commencement of the winding up, the
excess shall be distributed amongst the Members in proportion to the capital at the commencement of
the winding up paid-up or which ought to have been paid on the shares held by them respectively. But
this Article is to be without prejudice to the rights of the holders of shares issued upon special terms
and conditions.

Distribution in specie or kind

180.a

180.b.

180.c

If the Company shall be wound up, the liquidator, may with the sanction of a Special Resolution of the
Company and any other sanction required by the Act, divide amongst the members in specie or kind the
whole or any part of the assets of the Company, whether they shall consist of property of the same kind
or not.

For the purpose aforesaid, the liquidator may set such value as he deems fair upon any property to be
divided as aforesaid and may determine how such division shall be carried out as between the members
or different classes of members.

The liquidator may, with the like sanction, vest the whole or any part of such assets in trustees upon
such trusts for the benefit of the contributories as the liquidator, with the like sanction shall think fit,
but so that no member shall be compelled to accept any shares or other securities whereon there is any
liability.

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