BVI公司章程范本

CompanyNumber1611704TERRITORYOFTHEBRITISHVRIGINISLANDSTHEBVIBUSINESSCOMPANIESACT(NO.16OF2004)MEMORANDUMANDARTICLESOFASSOCIATIONOFSinoStarVenturesLimitedIncorporatedthe27thdayofOctober,2010TERRITORYOFTHEBRITISHVIRGINISLANDSTHEBVIBUSINESSCOMPANIESACT,2004(the"Act")MEMORANDUMOFASSOCIATIONOFSinoStarVenturesLimited1 NAMEThenameoftheCompanyisSinoStarVenturesLimited.2 COMPANYLIMITEDBYSHARESTheCompanyisacompanylimitedbyshares.Theliabilityofeachmemberislimitedtotheamountfromtimetotimeunpaidonsuchmember'sshares.3 REGISTEREDOFFICEThefirstregisteredofficeoftheCompanywillbesituatedattheofficeoftheregisteredagentwhichisatTrinityChambers,POBox4301,RoadTown,Tortola,VirginIslands,Britishorsuchotherplaceasthedirectorsormembersmayfromtimetotimedecide,beingtheofficeoftheregisteredagent.4 REGISTEREDAGENTThefirstregisteredagentoftheCompanywillbeSHRMTrustees(BVI)LimitedofTrinityChambers,POBox4301,RoadTown,Tortola,VirginIslands,Britishorsuchotherregisteredagentasthedirectorsormembersmaydecidefromtimetotime.5 GENERALOBJECTSANDPOWERSSubjecttoRegulation6belowtheobjectsforwhichtheCompanyisestablishedareunrestrictedandtheCompanyshallhavefullpowerandauthoritytocarryoutanyobjectnotprohibitedbytheBVIBusinessCompaniesAct,2004orasthesamemayberevisedfromtimetotime,oranyotherlawoftheBritishVirginIslands.6 LIMITATIONSONTHECOMPANY'SBUSINESSForthepurposesofsection9(4)oftheActtheCompanyhasnopowerto:carryonbankingortrustbusiness,unlessitislicensedundertheBanksandTrustCompaniesAct,1990;2carryonbusinessasaninsuranceorasareinsurancecompany,insuranceagentorinsurancebroker,unlessitislicensedunderanenactmentauthorisingittocarryonthatbusiness;carryonthebusinessofcompanymanagementunlessitislicensedundertheCompaniesManagementAct,1990;carryonthebusinessofprovidingtheregisteredofficeortheregisteredagentforcompaniesincorporatedintheBritishVirginIslands;orcarryonthebusinessasamutualfund,mutualfundmanagerormutualfundadministratorunlessitislicensedundertheMutualFundsAct,1996.7 AUTHORISEDSHARESTheCompanyisauthorisedtoissueamaximumof50,000sharesofoneclasswithaparvalueofUSD1.00each.ThesharesintheCompanyshallbeissuedinthecurrencyoftheUnitedStatesofAmerica.EachshareintheCompanyconfersontheholder:(i) therighttoonevoteatameetingofthemembersoftheCompanyoronanyresolutionofthemembersoftheCompany;therighttoanequalshareinanydividendpaidbytheCompanyinaccordancewiththeAct;andtherighttoanequalshareinthedistributionofthesurplusassetsoftheCompany.8 REGISTEREDSHARESONLYSharesintheCompanymayonlybeissuedasregisteredsharesandtheCompanyisnotauthorisedtoissuebearershares.Registeredsharesmaynotbeexchangedforbearersharesorconvertedtobearershares.9 AMENDMENTSSubjecttotheprovisionsoftheAct,theCompanyshallbyresolutionofthedirectorsormembershavethepowertoamendormodifyanyoftheconditionscontainedinthisMemorandumofAssociation.3We,SHRMTrustees(BVI)LimitedofTrinityChambers,POBox4301,RoadTown,Tortola,VirginIslands,BritishinourcapacityasregisteredagentfortheCompanyherebyapplytotheRegistrarfortheincorporationoftheCompanythis27thdayofOctober,2010.TERRITORYOFTHEBRITISHVIRGINISLANDSTHEBVIBUSINESSCOMPANIESACT,2004ARTICLESOFASSOCIATIONOFSinoStarVenturesLimitedINTERPRETATION1 ReferencesintheseArticlesofAssociation("Articles")totheActshallmeantheBVIBusinessCompaniesAct,2004.ThefollowingArticlesshallconstitutetheArticlesoftheCompany.IntheseArticles,wordsandexpressionsdefinedintheActshallhavethesamemeaningand,unlessotherwiserequiredbythecontext,thesingularshallincludethepluralandviceversa,themasculineshallincludethefeminineandtheneuterandreferencestopersonsshallincludecorporationsandalllegalentitiescapableofhavingalegalexistence.SHARES2 Everypersonwhosenameisenteredasamemberintheshareregister,beingtheholderofregisteredshares,shallwithoutpayment,beentitledtoacertificatesignedbyadirectororunderthecommonsealoftheCompanywithorwithoutthesignatureofanydirectororofficeroftheCompanyspecifyingtheshareorsharesheldandtheparvaluethereof,providedthatinrespectofsharesheldjointlybyseveralpersons,theCompanyshallnotbeboundtoissuemorethanonecertificateanddeliveryofacertificateforasharetooneofseveraljointholdersshallbesufficientdeliverytoall.3 Ifacertificateiswornoutorlostitmayberenewedonproductionofthewornoutcertificate,oronsatisfactoryproofofitslosstogetherwithsuchindemnityasthedirectorsmayreasonablyrequire.AnymemberreceivingasharecertificateshallindemnifyandholdtheCompanyanditsofficersharmlessfromanylossorliabilitywhichitortheymayincurbyreasonofwrongfulorfraudulentuseorrepresentationmadebyanypersonbyvirtueofthepossessionofsuchacertificate.SHARESANDVARIATIONOFRIGHTS4 SubjecttotheprovisionsoftheseArticles,theunissuedsharesoftheCompany(whetherformingpartoftheoriginaloranyincreasedauthorisedshares)shallbeatthedisposalofthedirectorswhomayoffer,allot,grantoptionsoverorotherwisedisposeofthemto2suchpersonsatsuchtimesandforsuchconsideration,beingnotlessthantheparvalueofthesharesbeingdisposedof,anduponsuchtermsandconditionsasthedirectorsmaydetermine.5 Withoutprejudicetoanyspecialrightspreviouslyconferredontheholdersofanyexistingsharesorclassofshares,anyshareintheCompanymaybeissuedwithsuchpreferred,deferredorotherspecialrightsorsuchrestrictions,whetherinregardtodividend,votingorotherwiseasthedirectorsmayfromtimetotimedetermine.6 SubjecttotheprovisionsoftheActinthisregard,sharesmaybeissuedonthetermsthattheyareredeemable,orattheoptionoftheCompanybeliabletoberedeemedonsuchtermsandinsuchmannerasthedirectorsbeforeoratthetimeoftheissueofsuchsharesmaydetermine.7 ThedirectorsmayredeemanyshareissuedbytheCompanyatapremium.8 IfatanytimetheCompanyisauthorisedtoissuesharesofmorethanoneclasstherightsattachedtoanyclass(unlessotherwiseprovidedbythetermsofissueofthesharesofthatclass)may,whetherornottheCompanyisbeingwoundup,bevariedwiththeconsentinwritingoftheholdersofnotlessthanthree-fourthsoftheissuedsharesofthatclassandtheholdersofnotlessthanthree-fourthsoftheissuedsharesofanyotherclassofshareswhichmaybeaffectedbysuchvariation.9 Therightsconferredupontheholdersofthesharesofanyclassissuedwithpreferredorotherrightsshallnot,unlessotherwiseexpresslyprovidedbythetermsofissueofthesharesofthatclass,bedeemedtobevariedbythecreationorissueoffurthersharesrankingparipassutherewith.ExceptasrequiredbytheAct,nopersonshallberecognisedbytheCompanyasholdinganyshareuponanytrust,andtheCompanyshallnotbeboundbyorbecompelledinanywaytorecognise(evenwhenhavingnoticethereof)anyequitable,contingent,futureorpartialinterestinanyshareoranyinterestinanyfractionalpartofashareor(exceptasprovidedbytheseArticlesorbytheActanyotherrightsinrespectofanyshareexceptanyabsoluterighttotheentiretythereofbytheregisteredholder.TRANSFEROFSHARESSharesintheCompanyshallbetransferredbyawritteninstrumentoftransfersignedbythetransferorandcontainingthenameandaddressofthetransferee.TheinstrumentoftransfershallalsobesignedbythetransfereeifregistrationasaholderofthesharesimposesaliabilitytotheCompanyonthetransferee.TheinstrumentoftransferofaregisteredshareshallbesenttotheCompanyforregistration.SubjecttotheMemorandumofAssociation,theseArticlesandtoSection54(5)oftheAct,theCompanyshall,onreceiptofaninstrumentoftransfer,enterthenameofthe3transfereeoftheshareintheregisterofmembersunlessthedirectorsresolvetorefuseordelaytheregistrationofthetransferforreasonsthatshallbespecifiedintheresolution.TRANSMISSIONOFSHARESSubjecttoSections52(2)and53oftheAct,theexecutororadministratorofadeceasedmember,theguardianofanincompetentmemberorthetrusteeofabankruptmembershallbetheonlypersonrecognizedbytheCompanyashavinganytitletohisshare,savethatandonlyintheeventofdeath,incompetenceorbankruptcyofanymemberormembersoftheCompanyasaconsequenceofwhichtheCompanynolongerhasanydirectorsormembers,thenupontheproductionofanydocumentationwhichisreasonableevidenceoftheapplicantbeingentitledto:agrantofprobateofthedeceased'swill,orgrantoflettersofadministrationofthedeceased'sestate,orconfirmationoftheappointmentasexecutororadministrator(asthecasemaybe),ofadeceasedmember'sestate;ortheappointmentofaguardianofanincompetentmember;ortheappointmentastrusteeofabankruptmember;oruponproductionofanyotherreasonableevidenceoftheapplicant'sbeneficialownershipof,orentitlementtotheshares,totheCompany'sregisteredagentintheBritishVirginIslandstogetherwith(ifsorequestedbytheregisteredagent)anotarisedcopyofthesharecertificate(s)ofthedeceased,incompetentorbankruptmember,anindemnityinfavouroftheregisteredagentandappropriatelegaladviceinrespectofanydocumentissuedbyaforeigncourt,thentheadministrator,executor,guardianortrusteeinbankruptcy(asthecasemaybe)notwithstandingthattheirnamehasnotbeenenteredintheshareregisteroftheCompany,maybywrittenresolutionoftheapplicant,endorsedwithwrittenapprovalbytheregisteredagent,beappointedadirectoroftheCompanyorenteredintheshareregisterasthelegalandorbeneficialowneroftheshares.TheproductiontotheCompanyofanydocumentwhichisreasonableevidenceof:agrantofprobateofthewill,orgrantoflettersofadministrationoftheestate,orconfirmationoftheappointmentasexecutor,ofadeceasedmember;ortheappointmentofaguardianofanincompetentmember;orthetrusteeofabankruptmember;ortheapplicantslegalandorbeneficialownershipoftheshares,4shallbeacceptedbytheCompanyevenifthedeceased,incompetentmemberorbankruptmemberisdomiciledoutsidetheBritishVirginIslandsifthedocumentisissuedbyaforeigncourtwhichhadcompetentjurisdictioninthematter.Forthepurposesofestablishingwhetherornotaforeigncourthadcompetentjurisdictioninsuchamatterthedirectorsmayobtainappropriatelegaladvice.Thedirectorsmayalsorequireanindemnitytobegivenbytheexecutor,administrator,guardianortrusteeinbankruptcy.Anypersonbecomingentitledbyoperationoflaworotherwisetoashareorsharesinconsequenceofthedeath,incompetenceorbankruptcyofanymembermayberegisteredasamemberuponsuchevidencebeingproducedasmayreasonablyberequiredbythedirectors.Anapplicationbyanysuchpersontoberegisteredasamembershallforallpurposesbedeemedtobeatransferofsharesofthedeceased,incompetentorbankruptmemberandthedirectorsshalltreatitassuch.Anypersonwhohasbecomeentitledtoashareorsharesinconsequenceofthedeath,incompetenceorbankruptcyofanymembermay,insteadofbeingregisteredhimself,requestinwritingthatsomepersontobenamedbyhimberegisteredasthetransfereeofsuchshareorsharesandsuchrequestshalllikewisebetreatedasifitwereatransfer.Whatamountstoincompetenceonthepartofapersonisamattertobedeterminedbythecourthavingregardtoalltherelevantevidenceandthecircumstancesofthecase.ACQUISITIONOFOWNSHARESSubjecttotheprovisionsoftheActinthisregard,thedirectorsmay,onbehalfoftheCompanypurchase,redeemorotherwiseacquireanyoftheCompany'sownsharesforsuchconsiderationastheyconsiderfit,andeithercancelorholdsuchsharesastreasuryshares.Thedirectorsmaydisposeofanysharesheldastreasurysharesonsuchtermsandconditionsastheymayfromtimetotimedetermine.SharesmaybepurchasedorotherwiseacquiredinexchangefornewlyissuedsharesintheCompany.MEETINGSOFMEMBERSThedirectorsmayconvenemeetingsofthemembersoftheCompanyatsuchtimesandinsuchmannerandplacesasthedirectorsconsidernecessaryordesirable,andtheyshallconvenesuchameetinguponthewrittenrequestofmembersentitledtoexerciseatleastthirty(30)percentofthevotingrightsinrespectofthematterforwhichthemeetingisrequested.20 Seven(7)daysnoticeattheleastspecifyingtheplace,thedayandthehourofthemeetingandgeneralnatureofthebusinesstobeconductedshallbegiveninthemannerhereinaftermentionedtosuchpersonswhosenamesonthedatethenoticeisgivenappearasmembersintheshareregisteroftheCompanyandareentitledtovoteatthemeeting.NotwithstandingArticle20,ameetingofmembersheldincontraventionoftherequirementtogivenoticeisvalidifmembersholdinganinety(90)percentmajorityof:5thetotalvotingrightsonallthematterstobeconsideredatthemeeting;orthevotesofeachclassorseriesofshareswheremembersareentitledtovotethereonasaclassorseriestogetherwithanabsolutemajorityoftheremainingvotes,havewaivednoticeofthemeetingand,forthispurpose,thepresenceofamemberatthemeetingshallbedeemedtoconstitutewaiveronhispart.Theinadvertentfailureofthedirectorstogivenoticeofameetingtoamemberorthefactthatamemberhasnotreceivedthenotice,shallnotinvalidatethemeeting.PROCEEDINGSATMEETINGSOFMEMBERSNobusinessshallbetransactedatanymeetingunlessaquorumofmembersispresentatthetimewhenthemeetingproceedstobusiness.Aquorumshallconsistoftheholderorholderspresentinpersonorbyproxyentitledtoexerciseatleastfifty(50)percentofthevotingrightsofthesharesofeachclassorseriesofsharesentitledtovoteasaclassorseriesthereonandthesameproportionofthevotesoftheremainingsharesentitledtovotethereon.If,withinhalfanhourfromthetimeappointedforthemeeting,aquorumisnotpresent,themeetingshallbedissolved.25 Ateverymeetingthememberspresentshallchoosesomeoneoftheirnumbertobethechairman(the"Chairman").IfthemembersareunabletochooseaChairmanforanyreason,thenthepersonrepresentingthegreatestnumberofvotingsharespresentatthemeetingshallpresideasChairmanfailingwhichtheoldestindividualmemberpresentatthemeetingorfailinganymemberpersonallyattendingthemeeting,theproxypresentatthemeetingrepresentingtheoldestmemberoftheCompany,shalltakethechair.TheChairmanmay,withtheconsentofthemeeting,adjournanymeetingfromtimetotime,andfromplacetoplace,butnobusinessshallbetransactedatanyadjournedmeetingotherthanthebusinessleftunfinishedatthemeetingfromwhichtheadjournmenttookplace.Atanymeetingaresolutionputtothevoteofthemeetingshallbedecidedonashowofhandsbyasimplemajorityunlessapollis(beforeoronthedeclarationoftheresultoftheshowofhands)demanded:bytheChairman;orbyanymemberpresentinpersonorbyproxyandholdingnotlessthanonetenthofthetotalvotingsharesissuedbytheCompanyandhavingtherighttovoteatthemeeting.6Unlessapollbesodemanded,adeclarationbytheChairmanthataresolutionhas,onashowofhandsbeencarried,andanentrytothateffectinthebookcontainingtheminutesoftheproceedingsoftheCompany,shallbesufficientevidenceofthefact,withoutproofofthenumberorproportionofthevotesrecordedinfavouroforagainstsuchresolution.29IfapollisdulydemandeditshallbetakeninsuchmannerastheChairmandirects,andtheresultofthepollshallbedeemedtobetheresolutionofthemeetingatwhichthepollwasdemanded.Thedemandforapollmaybewithdrawn.Inthecaseofanequalityofvotes,whetheronashowofhands,oronapoll,theChairmanofthemeetingatwhichtheshowofhandstakesplace,oratwhichthepollisdemanded,shallbeentitledtoasecondorcastingvote.VOTESOFMEMBERSAtanymeetingofmemberswhetheronashowofhandsoronapolleveryholderofavotingsharepresentinpersonorbyproxyshallhaveonevoteforeveryvotingshareofwhichheistheholder.SubjecttothememorandumortheseArticles,anactionthatmaybetakenbymembersoftheCompanyatameetingofmembersmayalsobetakenbyaresolutionofmembersconsentedtoinwritingorbytelex,telegram,cableorotherwrittenelectroniccommunication,withouttheneedforanynotice.Ifacommitteeisappointedforanymemberwhoisofunsoundmind,thatmembermayvotebysuchcommittee.IftwoormorepersonsarejointlyentitledtoaregisteredshareorsharesandifmorethanoneofsuchpersonsshallvoteinpersonorbyproxyatanymeetingofmembersorinaccordancewiththetermsofArticle31,thevoteofthatpersonwhosenameappearsfirstamongsuchvotingjointholdersintheshareregistershallalonebecounted.Votesmaybegiveneitherpersonallyorbyproxy.Theinstrumentappointingaproxyshallbeproducedattheplaceappointedforthemeetingbeforethetimeforholdingthemeetingatwhichthepersonnamedinsuchinstrumentproposestovote.SubjecttoArticle38below,aninstrumentappointingaproxyshallbeinsuchformastheChairmanofthemeetingshallacceptasproperlyevidencingthewishesofthememberappointingtheproxy.38 Theinstrumentappointingaproxyshallbeinwritingunderthehandoftheappointerunlesstheappointerisacorporationorotherformoflegalentityotherthanoneormoreindividualsholdingasjointownerinwhichcasetheinstrumentappointingaproxyshall7beinwritingunderthehandofanindividualdulyauthorisedbysuchcorporationorlegalentitytoexecutethesame.TheChairmanofanymeetingatwhichavoteiscastbyproxysoauthorisedmaycallforanotariallycertifiedcopyofsuchauthoritywhichshallbeproducedwithinsevendaysofbeingsorequestedfailingwhichthevoteorvotescastbysuchproxyshallbedisregarded.CORPORATIONSACTINGBYREPRESENTATIVESATMEETINGSAnycorporationorotherformofcorporatelegalentitywhichisamemberoftheCompanymaybyresolutionofitsdirectorsorothergoverningbodyauthorisesuchpersonasitthinksfittoactasitsrepresentativeatanymeetingofthemembersoranyclassofmembersoftheCompany,andthepersonsoauthorisedshallbeentitledtoexercisethesamepowersonbehalfofthecorporationwhichherepresentsasthatcorporationcouldexerciseifitwereanindividualmemberoftheCompany.DIRECTORSSubjecttoanysubsequentamendmenttochangethenumberofdirectors,thenumberofthedirectorsshallbenotlessthanoneormorethanfifteen.ThefirstdirectorordirectorsshallbeappointedbytheregisteredagentoftheCompany.Thereafter,thedirectorsshallbeappointedbythemembersorthedirectorsforsuchtermsasthemembersordirectorsmaydetermineandmayberemovedbythemembersorthedirectorsbywayofaresolution.42 NotwithstandingtheprovisionsofSection114oftheAct,eachdirectorholdsofficeuntilhissuccessortakesofficeoruntilhisearlierdeathresignationorremovalbythemembersasperArticle41oraresolutionpassedbythemajorityoftheremainingdirectors.Avacancyintheboardofdirectorsmaybefilledbyaresolutionofmembersoraresolutionpassedbythemajorityoftheremainingdirectors.Adirectorshallnotrequireasharequalification,butneverthelessshallbeentitledtoattendandspeakatanymeetingofthemembersandatanyseparatemeetingoftheholdersofanyclassofsharesintheCompany.Adirector,bywritingunderhishanddepositedattheregisteredofficeoftheCompany,mayfromtimetotimeappointanotherdirectororanotherpersontobehisalternate.Everysuchalternateshallbeentitledtobegivennoticeofmeetingsofthedirectorsandtoattendandvoteasadirectoratanysuchmeetingatwhichthedirectorappointinghimisnotpersonallypresentandgenerallyatsuchmeetingtohaveandexerciseallthepowers,rights,dutiesandauthoritiesofthedirectorappointinghim.EverysuchalternateshallbedeemedtobeanofficeroftheCompanyandshallnotbedeemedtobeanagentofthedirectorappointinghim.Ifunduedelayordifficultywouldbeoccasionedbygivingnoticetoadirectorofaresolutionofwhichhisapprovalissoughtinaccordance8withArticle70hisalternate(ifany)shallbeentitledtosignifyapprovalofthesameonbehalfofthatdirector.Theremunerationofanalternateshallbepayableoutoftheremunerationpayabletothedirectorappointinghim,andshallconsistofsuchportionofthelastmentionedremunerationasshallbeagreedbetweensuchalternateandthedirectorappointinghim.AdirectorbywritingunderhishanddepositedattheregisteredofficeoftheCompanymayatanytimerevoketheappointmentofanalternateappointedbyhim.Ifadirectorshalldieorceasetoholdtheofficeofdirector,theappointmentofhisalternateshallthereuponceaseandterminate.Thedirectorsmay,byresolution,fixtheemolumentofdirectorsinrespectofservicesrenderedortoberenderedinanycapacitytotheCompany.Thedirectorsmayalsobepaidsuchtravelling,hotelandotherexpensesproperlyincurredbytheminattendingandreturningfrommeetingsofthedirectors,oranycommitteeofthedirectorsormeetingsofthemembers,orinconnectionwiththebusinessoftheCompanyasshallbeapprovedbyresolutionofthedirectors.Anydirectorwho,byrequest,goesorresidesabroadforanypurposesoftheCompany,orwhoperformsserviceswhichintheopinionoftheBoardgobeyondtheordinarydutiesofadirector,maybepaidsuchextraremuneration(whetherbywayofsalary,commission,participationinprofitsorotherwise)asshallbeapprovedbyresolutionofthedirectors.TheCompanymaypaytoadirectorwhoattherequestoftheCompanyholdsanyoffice(includingadirectorship)in,orrendersservicesto,anycompanyinwhichtheCompanymaybeinterested,suchremuneration(whetherbywayofsalary,commission,participationinprofitsorotherwise)inrespectofsuchofficeorservicesasshallbeapprovedbyresolutionofthedirectors.Theofficeofdirectorshallbevacatedifthedirector:isremovedfromofficebyresolutionofmembers;orisremovedfromofficebyresolutionofthedirectorsoftheCompany;orbecomesdisqualifiedtoactasadirectorunderSection111oftheAct.(a)AdirectormayholdanyotherofficeorpositionofprofitundertheCompany(exceptthatofauditor)inconjunctionwithhisofficeofdirector,andmayactinaprofessionalcapacitytotheCompanyonsuchtermsastoremunerationandotherwiseasthedirectorsshallarrange.Adirectormaybeorbecomeadirectororofficerof,orotherwisebeinterestedinanycompanypromotedbytheCompany,orinwhichtheCompanymaybeinterested,asamemberorotherwiseandnosuchdirectorshallbeaccountableforanyremunerationorotherbenefitsreceivedbyhimasdirectororofficerorfromhisinterestinsuchothercompany.Thedirectorsmayalsoexercisethevoting9powersconferredbythesharesinanyothercompanyheldorownedbytheCompanyinsuchmannerinallrespectsastheythinkfit,includingtheexercisethereofinfavourofanyresolutionsappointingthem,oroftheirnumber,directorsorofficersofsuchothercompany,orvotingorprovidingforthepaymentofremunerationtothedirectorsorofficersofsuchothercompany.Adirectormayvoteinfavouroftheexerciseofsuchvotingrightsinthemanneraforesaidnotwithstandingthathemaybe,orbeabouttobecome,adirectororofficerofsuchothercompany,andassuchinanyothermanneris,ormaybe,interestedintheexerciseofsuchvotingrightsinthemanneraforesaid.(c) NodirectorshallbedisqualifiedbyhisofficefromcontractingwiththeCompanyeitherasavendor,purchaserorotherwise,norshallanysuchcontractorarrangemententeredintobyoronbehalfoftheCompanyinwhichanydirectorshallbeinanywayinterestedbevoided,norshallanydirectorsocontractingorbeingsointerestedbeliabletoaccounttotheCompanyforanyprofitrealisedbyanysuchcontractorarrangement,byreasonofsuchdirectorholdingthatofficeorbyreasonofthefiduciaryrelationshiptherebyestablished,providedtheprocedureinArticle50(d)belowisfollowed.AdirectoroftheCompanyshall,immediatelyafterbecomingawareofthefactthatheisinterestedinatransactionenteredintoortobeenteredintobytheCompany,disclosesuchinteresttotheboardofdirectors.AdirectoroftheCompanyisnotrequiredtocomplywithArticle50(d)aboveif:(i) thetransactionorproposedtransactionisbetweenthedirectorandtheCompany;andthetransactionorproposedtransactionisoristobeenteredintointheordinarycourseoftheCompany'sbusinessandonusualtermsandconditions.(f) ForthepurposesofArticle50(d)above,adisclosuretotheboardtotheeffectthatadirectorisamember,director,officerortrusteeofanothernamedcompanyorotherpersonandistoberegardedasinterestedinanytransactionwhichmay,afterthedateoftheentryordisclosure,beenteredintowiththatcompanyorperson,isasufficientdisclosureofinterestinrelationtothattransaction.SubjecttoSection125(1)oftheAct,thefailurebyadirectortocomplywithArticle50(d)doesnotaffectthevalidityofatransactionenteredintobythedirectorortheCompany.OFFICERS51 ThedirectorsoftheCompanymay,byresolutionofdirectors,appointofficersoftheCompanyatsuchtimesasshallbeconsiderednecessaryorexpedient,andsuchofficers10mayconsistofaPresident,oneormoreVicePresidents,aSecretary,andaTreasurerand/orsuchotherofficersasmayfromtimetotimebedeemeddesirab