1986 Ed.]
Overseas Trust Bank Compensation of Registered Holders of Shares | Regulations
(CAP. 379
A 3
[Subsidiary]
(
СС
C C
tary Incorporated may, by notice in writing sent by post to the last address shown in the share register of the company, advise each registered holder of shares of his rights under regulation 3(1) and the effect of this regulation.
(2) If a notice is given by the Financial Secretary Incorporated under paragraph (1), and if no request in writing by a registered holder of shares under regulation 3(1) is received prior to the expiration of the period beginning from the coming into operation of these regulations and ending on a date 3 months after the latest date of service of that notice, the amount of compensation shall be deemed to be nil.
5. (1) The Tribunal shall consist of 3 persons appointed by the Governor as follows-
(a) a judge who shall be Chairman:
(b) 2 other persons neither of whom shall be a public officer. (2) Every appointment under paragraph (1) shall be notified in the Gazette.
(3) The Tribunal may appoint a public officer to be the Clerk to the Tribunal and such other public officers to be clerical and secretarial assistants to the Tribunal as it considers necessary.
6. The function of the Tribunal shall be to determine the amount of compensation by calculating the value of a single share in accordance with the factors and principles set out in the Schedule.
7. (1) For the purpose of discharging its function under regulation 6 the Tribunal may, and if requested in writing by a registered holder of shares shall, by notice signed by the Chairman and published in the Gazette, give notice (hereinafter in these regulations referred to as notice of hearing) that it intends to conduct a hearing at which, subject to these regulations, representa- tions may be made by or on behalf of a registered holder of shares or the Financial Secretary Incorporated and requiring any registered holder of shares who intends to make representations to give notice to the Tribunal within such reasonable time and at such address as shall be specified in the notice of hearing.
(2) Within the period specified in the notice of hearing every registered holder of shares who intends to make representations at the hearing shall give notice in writing to the Tribunal of that intention.
(3) Upon the expiration of the period specified in the notice of hearing and after having regard to the number of registered holders of shares who have given notice under paragraph (2), the Tribunal shall consider whether to exercise its powers under regulation 12(1)(b) or (c).
Appointment of Tribunal.
Function of the Tribunal.
Schedule.
Hearings.