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CAP. 379]

Overseas Trust Bank | Compensation of Registered Holders of Shares: Regulations

[1986 Ed.

[Subsidiary]

L.N. 54/86.

27 of 1986.

OVERSEAS TRUST BANK (COMPENSATION OF REGISTERED HOLDERS OF SHARES) REGULATIONS

(Cap. 379. section 10)

[28 February 1986.]

Citation.

1.

Interpretation.

(Cap. 50.1

Establishment of Tribunal.

Time limit for seeking compensation.

PART I

GENERAL

These regulations may be cited as the Overseas Trust Bank (Compensation of Registered Holders of Shares) Regulations.

2. In these regulations-

"accountant" means a certified public accountant as defined by the

Professional Accountants Ordinance:

"Chairman" means the Chairman of the Tribunal appointed under

regulation 5:

"compensation" means compensation payable to registered holders

of shares under section 9(1) of the Ordinance:

"hearing" includes any adjourned hearing:

"registered holder of shares" means a person referred to in section

9(1) of the Ordinance:

"representations" includes the calling or giving of evidence; "shares" means the shares in the capital of the company held by

registered holders of shares immediately before commencement: "Tribunal" means the Overseas Trust Bank Compensation Tribunal

established under regulation 3.

PART II

DETERMINATION OF COMPENSATION

3. (1) For the purpose of determining the amount of com- pensation the Governor may, and if requested in writing by any registered holder of shares shall, by notice published in the Gazette. establish a Tribunal to be known as the Overseas Trust Bank Compensation Tribunal.

(2) The Tribunal shall have the functions. powers and duties prescribed by these regulations.

4. (1) If within 3 months of the coming into operation of these regulations no request in writing is made by any registered holder of shares under regulation 3(1) and the Governor has not established the Tribunal under that regulation, the Financial Secre-

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