CO129-520-7 Public Utility companies- acquisition by foreign groups 4-12-1929 - 26-1-1930 — Page 143

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Arbitration.

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Trustees upon such trusts for the benefit of the contribu- tories, or any of them, as the liquidators, with the like sanction, shall think fit.

(b) If thought expedient any such division may be otherwise than in accordance with the legal rights of the contributories (except where unalterably fixed by the Memorandum of Association), and in particular any class may be given preferential or special rights, or may be excluded altogether or in part; but in case any division otherwise than in accordance with the legal rights of the contributories shall be determined on, any contributory who would be prejudiced thereby shall have a right to dissent and ancillary rights as if such determination were a Special Resolution passed pursuant to Section 185 of the Companies Ordinance, 1911.

(c) In case any shares to be divided as aforesaid involve a liability to calls or otherwise, any person entitled under such division to any of the said shares may, within ten days after the passing of the Extraordinary Resolu- tion, by notice in writing, direct the liquidators to sell his proportion and pay him the net proceeds, and the liqui- dators shall, if practicable, act accordingly.

Arbitration.

161. (a) Every question or difference that shall arise between the Company and the Directors or any officer of the Company or the heirs, executors or administrators of any officer whether as to the construction, operation or effect of these Presents or as to any right, duty, obligation or liability of the Company or the Directors or any officer of the Company, or the heirs, executors, administrators or assigns of any such officer or otherwise, shall be referred to Arbitrators in accordance with the provisions of Chapter 24 of the Code of Civil Procedure of Hong Kong or any statutory modification or alteration thereof, and the decision of the Arbitrators or (as the case may be) of the umpire shall be final and binding on all parties to the difference.

(b) The costs of and incidental to any such arbitra- tion shall be in the discretion of the arbitrators or (as the case may be) of the umpire who may determine the amount thereof or direct the same shall be taxed whether as between party and party or solicitor and client.