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The Articles of Association of the Company.
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7.—(1) The Articles of Association of the Company shall be in such form consistent with this Act as shall be approved of by the Minister after consultation with the Minister for Finance.
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(2) The following provisions shall apply and have effect in relation to the Articles of Association of the Company, that is to say:—
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(a) the said Articles shall fix the number of the directors of the Company, but the number so fixed shall not exceed seven, including the chairman and the managing director;
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(b) the said Articles shall provide that the qualification for being a director of the Company shall be the holding of at least one share in the Company;
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(c) the said Articles shall provide that the chairman, the managing director, and all the other directors shall always be appointed by the Minister for Finance after consultation with the Minister, and with the Minister for Agriculture;
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(d) the said Articles shall not confer on the Company any power to increase or reduce the capital of the Company or any power to issue debentures.
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