J Smart Contractors : 2022 – Proposed New Articles of Association

1.

Exclusion of model articles (and any other prescribed regulations)

.................................. 6

2.

Interpretation

6

3.

Form of resolution

9

4.

Limited liability

9

5.

Change of name

9

6.

Power to attach rights to shares

9

7.

Allotment of shares and pre-emption

9

8.

Redeemable shares

11

9.

Pari passu issues

11

10.

Variation of rights

11

11.

Payment of commission

12

12.

Trusts not recognised

12

13.

Uncertificated shares

12

14.

Share certificates

14

15.

Replacement certificates

14

16.

Lien on shares not fully paid

15

17.

Enforcement of lien by sale

15

18.

Application of proceeds of sale

15

19.

Calls

16

20.

Liability of joint holders

16

21.

Interest on calls

16

22.

Power to differentiate

17

23.

Payment of calls in advance

17

24.

Notice if call or instalment not paid

17

25.

Forfeiture for non-compliance

17

26.

Notice after forfeiture

17

27.

Forfeiture may be annulled

18

28.

Surrender

18

29.

Sale of forfeited shares

18

30.

Effect of forfeiture

18

31.

Evidence of forfeiture

19

32.

Form of transfer

19

33.

Right to refuse registration of transfer

19

2

34.

Notice of refusal to register a transfer

20

35.

No fees on registration

20

36.

Other powers in relation to transfers

20

37.

Transmission of shares on death

21

38.

Election of person entitled by transmission

21

39.

Rights on transmission

21

40.

Destruction of documents

22

41.

Sub-division

23

42.

Fractions

23

43.

Annual general meetings

23

44.

Convening of general meetings

23

45.

Simultaneous attendance and participation by electronic facilities

25

46.

Notice of general meetings

25

47.

Contents of notice of general meetings

25

48.

Omission to give notice and non-receipt of notice

27

49.

Postponement of general meeting

27

50.

Quorum at general meeting

28

51.

Procedure if quorum not present

28

52.

Chair of general meeting

28

53.

Entitlement to attend, speak and participate

29

54.

Adjournments

29

55.

Notice of adjournment

30

56.

Business of adjourned meeting

30

meetings

30

58.

Overflow meeting rooms

31

59.

Amendment to resolutions

32

60.

Members' resolutions

32

61.

Method of voting

32

62.

Objection to error in voting

33

63.

Procedure on a poll

33

64.

Votes of members

34

65.

No right to vote where sums overdue on shares

35

66.

Voting by Proxy

35

67.

Receipt of proxy

36

68.

Revocation of proxy

38

69.

Corporate representatives

38

3

70.

Failure to disclose interests in shares

39

71.

Power of sale of shares of untraced members

41

72.

Application of proceeds of sale of shares of untraced members

42

73.

Number of directors

43

74.

Power of company to appoint directors

43

75.

Power of board to appoint directors

43

76.

Eligibility of new directors

43

77.

Appointment of independent directors

43

78.

Retirement of directors

44

79.

Deemed re-appointment

44

80.

Removal of directors

44

81.

Procedure if insufficient directors appointed

45

82.

Vacation of office by director

45

83.

Resolution as to vacancy conclusive

46

84.

Appointment of alternate directors

46

85.

Alternate directors' participation in board meetings

46

86.

Alternate director responsible for own acts

47

87.

Interests of alternate director

47

88.

Revocation of alternate director

47

89.

Directors' fees

47

90.

Expenses

48

91.

Additional remuneration

48

92.

Remuneration of executive directors

48

93.

Pensions and other benefits

48

94.

Powers of the board

49

95.

Powers of directors if less than minimum number

49

96.

Powers of executive directors

50

97.

Delegation to committees

50

98.

Local management

50

99.

Power of attorney

51

100.

Exercise of voting power

51

101.

Provision for employees on cessation of business

51

102.

Overseas registers

52

103.

Borrowing powers

52

104.

Board meetings

52

105.

Notice of board meetings

52

4

106.

Quorum

53

107.

Chair

53

108.

Voting

53

109.

Participation by telephone or other form of communication

53

110.

Resolution in writing

54

111.

Proceedings of committees

54

112.

Minutes of proceedings

54

113.

Validity of proceedings

55

114.

Transactions or other arrangements with the company

55

115.

Authorisation of Directors' conflicts of interest

56

116.

Restrictions on quorum and voting for directors' permitted interests

57

117.

General

59

118.

Power to authenticate documents

59

119.

Use of seals

59

120.

Declaration of dividends

60

121.

Interim dividends

60

122.

Calculation and currency of dividends

60

123.

Amounts due on shares can be deducted from dividends

61

124.

Dividends not in cash

61

125.

No interest on dividends

61

126.

Method of payment

61

127.

Uncashed dividends

62

128.

Unclaimed dividends

63

129.

Scrip dividends

63

130.

Capitalisation of reserves

65

131.

Record dates

66

132.

Inspection of records

67

133.

Account to be sent to members

67

134.

Service of Notices

68

135.

Notice on person entitled by transmission

69

136.

Record date for service

69

137.

Evidence of service

70

138.

Notice when post not available

70

139.

Indemnity and insurance

71

140.

Winding up

72