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111626 MDADAN 0787
MY SECOND IPT: STOCK EXCHANGE: INVESTIGATION BY ICAC
1.
TEXT OF RECORD OF TODAY'S MEETING OF COMMITTEE OF STOCK
EXCHANGE IS AS FOLLOWS:
THERE
THE COMMITTEE MET AND FOLLOWING DISCUSSION IT WAS UNANIMOUSLY AGREED THAT THE RESOLUTIONS WHICH FOLLOW SHOULD BE PASSED. WAS A RECOGNITION BY ALL COMMITTEE MEMBERS THAT, IN THE CIRCUMSTANCES, THE POWERS OF THE COMMITTEE SHOULD, FOR A PERIOD OF LIMITED DURATION, BE TRANSFERRED TO A MANAGEMENT SUB-COMMITTEE, CONSISTING OF SOME BUT NOT ALL THE MEMBERS OF THE COMMITTEE.
THOSE MEMBERS NOT PARTICIPATING IN THE MANAGEMENT SUB-COMMITTEE
EXPRESSED AN UNDERSTANDING OF THE REASONS FOR TRANSFER OF THE COMMITTEE'S POWERS TO THE MANAGEMENT SUB-COMMITTEE, AND THEIR NON-PARTICIPATION IN ITS MEMBERSHIP. THEY UNDERTOOK NOT TO TAKE
ANY PART IN THE MANAGEMENT OF THE EXCHANGE COMPANY DURING THE
PERIOD IN WHICH THE MANAGEMENT SUB-COMMITTEE HAS OFFICE.
1.
RESOLUTIONS OF THE COMMITTEE
THAT THE COMMITTEE HEREBY DELEGATE, PURSUANT TO ARTICLE 106(C) OF THE ARTICLES OF THE ASSOCIATION, TO A MANAGEMENT SUB-COMMITTEE ALL OF ITS POWERS AND IN ALL RESPECTS THE EFFECT OF WHICH
/ DELEGATION IS TO EMPOWER THE MANAGEMENT SUB-COMMITTEE TO EXERCISE
ALL SUCH POWERS TO THE EXCLUSION OF THE COMMITTEE. DELEGATION OF
ANY OF THE COMMITTEE'S POWERS TO SUB-COMMITTEES ESTABLISHED UNDER
RULE 212 OF THE RULES OF THE EXCHANGE COMPANY IS HEREBY REVOKED.
2.
THAT THE MANAGEMENT SUB-COMMITTEE MAY BY A MAJORITY VOTE REMOVE
ANY OF ITS MEMBERS FOR ANY REASON IT SEES FIT AND SUCH REMOVAL SHALL
NOT REQUIRE THE APPROVAL OF THE COMMITTEE.
3. THAT WITH IMMEDIATE
IZATION TO OPERATE BANK
IS HEREBY WITHDRAWN AND
EFFECT FROM THE DATE HEREOF ANY AUTHOR-
ACCOUNTS ON BEHALF OF THE EXCHANGE COMPANY
ANY ONE OF THE FOLLOWING PERSONS ARE
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