3

8--

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Increased Capital to be subject to same provisions as original Capital.

Acceptance of Shares.

Certificate.

Renewal of Certificate.

Company to have a lien on Shares.

First name of joint holders deemed the holder except for transfer.

33.-ANY CAPITAL raised by the creation of new Shares shall be considered as part of the Original Capital, and shall be subject to the same provisions with reference to the payment of calls and the Forfeiture of Shares on non-payment of Calls, or otherwise, as if it had been part of the Original Capital.

V.-Shares.

34. AN APPLICATION signed by or on behalf of the applicant for Shares in the Company, followed by an Allotment of any Shares therein, shall be an acceptance of Shares within the meaning of these articles; and every person who thus or otherwise accepts any Share and whose name is on the Register, shall for the purposes of these articles be a Shareholder.

35. EVERY SHAREHOLDER shall on payment of One Dollar be entitled to a Certificate under the common seal of the Company, specifying the Share or Shares held by him and the amount paid up thereon.

36.-IF ANY such Certificate be worn out or lost, it may be renewed on payment of One Dollar provided such evidence as the Board may deem reasonable be afforded of the title of the party applying for the renewal.

37.-THE COMPANY shall have a first and paramount lien upon all the Shares of any Shareholders for all monies due to the Company either from him alone or jointly with any other person; and where a Share is held by more persons than one the Company shall have a lien thereon in respect of all monies so due to them from all or any of the holders thereof.

38. IF ANY SHARE shall stand in the names of two or more persons the person first named in the Register shall as regards Voting at any Meetings, receipt of dividends, service of notices and all or any other matters connected with the Company, except the transferee of the Share be deemed the sole holder thereof.

39.-No SHARE shall be sub-divided.

40.-THE COMPANY shall not be bound by nor recognise any equitable, contingent, future, or partial interest, in any Shares, nor (except only as is by these presents otherwise provided) any other right in respect of a Share than an Absolute right thereto in accordance with these presents in the person from time to time registered as the holder thereof.

41.-No SHAREHOLDER who shall change his name or place of abode, or, being a female, shall marry, and no husband of any such last mentioned Shareholder shall be entitled to receive any dividend, or to vote, until notice in writing of the change of name or abode, or marriage, be given to the Company, in order to its being registered.

42.-EACH SHAREHOLDER shall, on becoming a Shareholder, leave in writing at the Office of the Company an address in Hongkong to which all notices may be addressed to him, and which for all purposes shall be considered as the Registered address of such Shareholder.

No sub-division of Shares.

No interest in Shares to be recognised except that of Registered holder.

Notice to be given to Company of change of name or abode, or marriage.

Shareholder to give address in Hongkong.

"Shareholders' Register" to be kept.

43.-THE name and place of abode and the above mentioned address in Hongkong of every Shareholder together with the number of Shares held by him shall from time to time be entered in a book to be kept for that purpose and to be called "The Shareholders' Register."

Transfers.

VI.-Transfer and Transmission of Shares.

44.-THE Company shall keep a book to be called the Register of Transfers and therein shall be fairly and distinctly entered the particulars of every Transfer or Transmission of any Share and the book shall be from time to time authenticated by having the seal affixed thereto at an Ordinary Meeting,

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