BVI公司章程范本英文版

精品文檔精心整理精品文檔可編輯的精品文檔BVI公司章程范本英文版目錄：1、BVI公司章程范本英文版2、中外合資企業(yè)章程(附英文)3、創(chuàng)業(yè)企業(yè)公司章程(初創(chuàng))ber1611704MEMORANDUMANDARTICLESOFASSOCIATIONturesLimitedfOctober,20XXINISLANDSTHEBVIBUSINESSCOMPANIESACT,20XXarVenturesLimited123456ThenameoftheCompanyisSinoStarVenturesLimited.YSHARESTheCompanyisacompanylimitedbyshares.Theliabilityofeachmemberislimitedtotheamountfromtimetotimeunpaidonsuchmember'sshares.DOFFICEThefirstregisteredofficeoftheCompanywillbesituatedattheofficeoftheregisteredagentwhichisatTrinityChambers,POBox4301,RoadTown,Tortola,VirginIslands,Britishorsuchotherplaceasthedirectorsormembersmayfromtimetotimedecide,beingtheofficeoftheregisteredagent.AGENTThefirstregisteredagentoftheCompanywillbeSHRMTrustees(BVI)LimitedofTrinityChambers,POBox4301,RoadTown,Tortola,VirginIslands,Britishorsuchotherregisteredagentasthedirectorsormembersmaydecidefromtimetotime.OWERSSubjecttoRegulation6belowtheobjectsforwhichtheCompanyisestablishedareunrestrictedandtheCompanyshallhavefullpowerandauthoritytocarryoutanyobjectnotprohibitedbytheBVIBusinessCompaniesAct,20XXorasthesamemayberevisedfromtimetotime,oranyotherlawoftheBritishVirginIslands.OMPANY'SBUSINESSForthepurposesofsection9(4)oftheActtheCompanyhasnopowerto:(a)carryonbankingortrustbusiness,unlessitislicensedundertheBanksandTrustCompaniesAct,1990;2(b)carryonbusinessasaninsuranceorasareinsurancecompany,insuranceagentorinsurancebroker,unlessitislicensedunderanenactmentauthorisingittocarryonthatbusiness;(c)carryonthebusinessofcompanymanagementunlessitislicensedundertheCompaniesManagementAct,1990;(d)carryonthebusinessofprovidingtheregisteredofficeortheregisteredagentforcompaniesincorporatedintheBritishVirginIslands;or(e)carryonthebusinessasamutualfund,mutualfundmanagerormutualfundadministratorunlessitislicensedundertheMutualFundsAct,1996.789EDSHARES(a)TheCompanyisauthorisedtoissueamaximumof50,000sharesofoneclasswithaparvalueofUSD1.00each.(b)ThesharesintheCompanyshallbeissuedinthecurrencyoftheUnitedStatesofAmerica.(c)EachshareintheCompanyconfersontheholder:(i)therighttoonevoteatameetingofthemembersoftheCompanyoronanyresolutionofthemembersoftheCompany;(ii)therighttoanequalshareinanydividendpaidbytheCompanyinaccordancewiththeAct;and(iii)therighttoanequalshareinthedistributionofthesurplusassetsoftheCompany.HARESONLYSharesintheCompanymayonlybeissuedasregisteredsharesandtheCompanyisnotauthorisedtoissuebearershares.Registeredsharesmaynotbeexchangedforbearersharesorconvertedtobearershares.SubjecttotheprovisionsoftheAct,theCompanyshallbyresolutionofthedirectorsormembershavethepowertoamendormodifyanyoftheconditionscontainedinthisMemorandumofAssociation.3We,SHRMTrustees(BVI)LimitedofTrinityChambers,POBox4301,RoadTown,Tortola,VirginIslands,BritishinourcapacityasregisteredagentfortheCompanyherebyapplytotheRegistrarfortheincorporationoftheCompanythis27thdayofOctober,20XX.INISLANDSTHEBVIBUSINESSCOMPANIESACT,20XXCIATIONarVenturesLimited1234ReferencesintheseArticlesofAssociation("Articles")totheActshallmeantheBVIBusinessCompaniesAct,20XX.ThefollowingArticlesshallconstitutetheArticlesoftheCompany.IntheseArticles,wordsandexpressionsdefinedintheActshallhavethesamemeaningand,unlessotherwiserequiredbythecontext,thesingularshallincludethepluralandviceversa,themasculineshallincludethefeminineandtheneuterandreferencestopersonsshallincludecorporationsandalllegalentitiescapableofhavingalegalexistence.Everypersonwhosenameisenteredasamemberintheshareregister,beingtheholderofregisteredshares,shallwithoutpayment,beentitledtoacertificatesignedbyadirectororunderthecommonsealoftheCompanywithorwithoutthesignatureofanydirectororofficeroftheCompanyspecifyingtheshareorsharesheldandtheparvaluethereof,providedthatinrespectofsharesheldjointlybyseveralpersons,theCompanyshallnotbeboundtoissuemorethanonecertificateanddeliveryofacertificateforasharetooneofseveraljointholdersshallbesufficientdeliverytoall.Ifacertificateiswornoutorlostitmayberenewedonproductionofthewornoutcertificate,oronsatisfactoryproofofitslosstogetherwithsuchindemnityasthedirectorsmayreasonablyrequire.AnymemberreceivingasharecertificateshallindemnifyandholdtheCompanyanditsofficersharmlessfromanylossorliabilitywhichitortheymayincurbyreasonofwrongfulorfraudulentuseorrepresentationmadebyanypersonbyvirtueofthepossessionofsuchacertificate.IGHTSSubjecttotheprovisionsoftheseArticles,theunissuedsharesoftheCompany(whetherformingpartoftheoriginaloranyincreasedauthorisedshares)shallbeatthedisposalofthedirectorswhomayoffer,allot,grantoptionsoverorotherwisedisposeofthemto2suchpersonsatsuchtimesandforsuchconsideration,beingnotlessthantheparvalueofthesharesbeingdisposedof,anduponsuchtermsandconditionsasthedirectorsmaydetermine.5Withoutprejudicetoanyspecialrightspreviouslyconferredontheholdersofanyexistingsharesorclassofshares,anyshareintheCompanymaybeissuedwithsuchpreferred,deferredorotherspecialrightsorsuchrestrictions,whetherinregardtodividend,votingorotherwiseasthedirectorsmayfromtimetotimedetermine.6SubjecttotheprovisionsoftheActinthisregard,sharesmaybeissuedonthetermsthattheyareredeemable,orattheoptionoftheCompanybeliabletoberedeemedonsuchinsuchmannerasthedirectorsbeforeoratthetimeoftheissueofsuchsharesmaydetermine.7ThedirectorsmayredeemanyshareissuedbytheCompanyatapremium.8IfatanytimetheCompanyisauthorisedtoissuesharesofmorethanoneclasstherightsthetermsofissueofthesharesofthatclass)may,whetherornottheCompanyisbeingwoundup,bevariedwiththeconsentinwritingoftheholdersofnotlessthanthree-fourthsoftheissuedsharesofthatclassandtheholdersofnotlessthanthree-fourthsoftheissuedsharesofanyotherclassofshareswhichmaybeaffectedbysuchvariation.9Therightsconferredupontheholdersofthesharesofanyclassissuedwithpreferredorotherrightsshallnot,unlessotherwiseexpresslyprovidedbythetermsofissueofthesharesofthatclass,bedeemedtobevariedbythecreationorissueoffurthersharesrankingparipassutherewith.10ExceptasrequiredbytheAct,nopersonshallberecognisedbytheCompanyasholdinganyshareuponanytrust,andtheCompanyshallnotbeboundbyorbecompelledinanywaytorecognise(evenwhenhavingnoticethereof)anyequitable,contingent,futureorpartialinterestinanyshareoranyinterestinanyfractionalpartofashareor(exceptasprovidedbytheseArticlesorbytheActanyotherrightsinrespectofanyshareexceptanyabsoluterighttotheentiretythereofbytheregisteredholder.ES11SharesintheCompanyshallbetransferredbyawritteninstrumentoftransfersignedbythetransferorandcontainingthenameandaddressofthetransferee.TheinstrumentoftransfershallalsobesignedbythetransfereeifregistrationasaholderofthesharesimposesaliabilitytotheCompanyonthetransferee.TheinstrumentoftransferofaregisteredshareshallbesenttotheCompanyforregistration.12SubjecttotheMemorandumofAssociation,theseArticlesandtoSection54(5)oftheAct,theCompanyshall,onreceiptofaninstrumentoftransfer,enterthenameofthe3transfereeoftheshareintheregisterofmembersunlessthedirectorsresolvetorefuseordelaytheregistrationofthetransferforreasonsthatshallbespecifiedintheresolution.RES13SubjecttoSections52(2)and53oftheAct,theexecutororadministratorofadeceasedmember,theguardianofanincompetentmemberorthetrusteeofabankruptmembershallbetheonlypersonrecognizedbytheCompanyashavinganytitletohisshare,savethatandonlyintheeventofdeath,incompetenceorbankruptcyofanymemberormembersoftheCompanyasaconsequenceofwhichtheCompanynolongerhasanydirectorsormembers,thenupontheproductionofanydocumentationwhichisreasonableevidenceoftheapplicantbeingentitledto:(a)agrantofprobateofthedeceased'swill,orgrantoflettersofadministrationofthedeceased'sestate,orconfirmationoftheappointmentasexecutororadministrator(asthecasemaybe),ofadeceasedmember'sestate;or(b)theappointmentofaguardianofanincompetentmember;or(c)theappointmentastrusteeofabankruptmember;or(d)uponproductionofanyotherreasonableevidenceoftheapplicant'sbeneficialownershipof,orentitlementtotheshares,totheCompany'sregisteredagentintheBritishVirginIslandstogetherwith(ifsorequestedbytheregisteredagent)anotarisedcopyofthesharecertificate(s)ofthedeceased,incompetentorbankruptmember,anindemnityinfavouroftheregisteredagentandappropriatelegaladviceinrespectofanydocumentissuedbyaforeigncourt,thentheadministrator,executor,guardianortrusteeinbankruptcy(asthecasemaybe)notwithstandingthattheirnamehasnotbeenenteredintheshareregisteroftheCompany,maybywrittenresolutionoftheapplicant,endorsedwithwrittenapprovalbytheregisteredagent,beappointedadirectoroftheCompanyorenteredintheshareregisterasthelegalandorbeneficialowneroftheshares.14TheproductiontotheCompanyofanydocumentwhichisreasonableevidenceof:(a)agrantofprobateofthewill,orgrantoflettersofadministrationoftheestate,orconfirmationoftheappointmentasexecutor,ofadeceasedmember;or(b)theappointmentofaguardianofanincompetentmember;or(c)thetrusteeofabankruptmember;or(d)theapplicantslegalandorbeneficialownershipoftheshares,4shallbeacceptedbytheCompanyevenifthedeceased,incompetentmemberorbankruptmemberisdomiciledoutsidetheBritishVirginIslandsifthedocumentisissuedbyaforeigncourtwhichhadcompetentjurisdictioninthematter.Forthepurposesofestablishingwhetherornotaforeigncourthadcompetentjurisdictioninsuchamatterthedirectorsmayobtainappropriatelegaladvice.Thedirectorsmayalsorequireanindemnitytobegivenbytheexecutor,administrator,guardianortrusteeinbankruptcy.15Anypersonbecomingentitledbyoperationoflaworotherwisetoashareorsharesinconsequenceofthedeath,incompetenceorbankruptcyofanymembermayberegisteredasamemberuponsuchevidencebeingproducedasmayreasonablyberequiredbythedirectors.Anapplicationbyanysuchpersontoberegisteredasamembershallforallpurposesbedeemedtobeatransferofsharesofthedeceased,incompetentorbankruptmemberandthedirectorsshalltreatitassuch.16Anypersonwhohasbecomeentitledtoashareorsharesinconsequenceofthedeath,incompetenceorbankruptcyofanymembermay,insteadofbeingregisteredhimself,requestinwritingthatsomepersontobenamedbyhimberegisteredasthetransfereeofsuchshareorsharesandsuchrequestshalllikewisebetreatedasifitwereatransfer.17Whatamountstoincompetenceonthepartofapersonisamattertobedeterminedbythealltherelevantevidenceandthecircumstancesofthecase.NOFOWNSHARES18SubjecttotheprovisionsoftheActinthisregard,thedirectorsmay,onbehalfoftheCompanypurchase,redeemorotherwiseacquireanyoftheCompany'sownsharesforsuchconsiderationastheyconsiderfit,andeithercancelorholdsuchsharesastreasuryshares.Thedirectorsmaydisposeofanysharesheldastreasurysharesonsuchtermsandconditionsastheymayfromtimetotimedetermine.SharesmaybepurchasedorotherwiseacquiredinexchangefornewlyissuedsharesintheCompany.MEMBERS19ThedirectorsmayconvenemeetingsofthemembersoftheCompanyatsuchtimesandinsuchmannerandplacesasthedirectorsconsidernecessaryordesirable,andtheyshallconvenesuchameetinguponthewrittenrequestofmembersentitledtoexerciseatleastthirty(30)percentofthevotingrightsinrespectofthematterforwhichthemeetingisrequested.20Seven(7)daysnoticeattheleastspecifyingtheplace,thedayandthehourofthemeetingandgeneralnatureofthebusinesstobeconductedshallbegiveninthemannerhereinaftermentionedtosuchpersonswhosenamesonthedatethenoticeisgivenappearasmembersintheshareregisteroftheCompanyandareentitledtovoteatthemeeting.21NotwithstandingArticle20,ameetingofmembersheldincontraventionoftherequirementtogivenoticeisvalidifmembersholdinganinety(90)percentmajorityof:5(a)thetotalvotingrightsonallthematterstobeconsideredatthemeeting;or(b)thevotesofeachclassorseriesofshareswheremembersareentitledtovotethereonasaclassorseriestogetherwithanabsolutemajorityoftheremainingvotes,havewaivednoticeofthemeetingand,forthispurpose,thepresenceofamemberatthemeetingshallbedeemedtoconstitutewaiveronhispart.22Theinadvertentfailureofthedirectorstogivenoticeofameetingtoamemberorthefactthatamemberhasnotreceivedthenotice,shallnotinvalidatethemeeting.OFMEMBERS23Nobusinessshallbetransactedatanymeetingunlessaquorumofmembersispresentatthetimewhenthemeetingproceedstobusiness.Aquorumshallconsistoftheholderorholderspresentinpersonorbyproxyentitledtoexerciseatleastfifty(50)percentofthevotingrightsofthesharesofeachclassorseriesofsharesentitledtovoteasaclassorseriesthereonandthesameproportionofthevotesoftheremainingsharesentitledtovotethereon.24If,withinhalfanhourfromthetimeappointedforthemeeting,aquorumisnotpresent,themeetingshallbedissolved.25Ateverymeetingthememberspresentshallchoosesomeoneoftheirnumbertobethechairman(the"Chairman").IfthemembersareunabletochooseaChairmanforanyreason,thenthepersonrepresentingthegreatestnumberofvotingsharespresentatthemeetingshallpresideasChairmanfailingwhichtheoldestindividualmemberpresentatthemeetingorfailinganymemberpersonallyattendingthemeeting,theproxypresentatthemeetingrepresentingtheoldestmemberoftheCompany,shalltakethechair.26TheChairmanmay,withtheconsentofthemeeting,adjournanymeetingfromtimetotime,andfromplacetoplace,butnobusinessshallbetransactedatanyadjournedmeetingotherthanthebusinessleftunfinishedatthemeetingfromwhichtheadjournmenttookplace.27Atanymeetingaresolutionputtothevoteofthemeetingshallbedecidedonashowofhandsbyasimplemajorityunlessapollis(beforeoronthedeclarationoftheresultoftheshowofhands)demanded:(a)bytheChairman;or(b)byanymemberpresentinpersonorbyproxyandholdingnotlessthanonetenthofthetotalvotingsharesissuedbytheCompanyandhavingtherighttovoteatthemeeting.628Unlessapollbesodemanded,adeclarationbytheChairmanthataresolutionhas,onashowofhandsbeencarried,andanentrytothateffectinthebookcontainingtheminutesoftheproceedingsoftheCompany,shallbesufficientevidenceofthefact,withoutproofofthenumberorproportionofthevotesrecordedinfavouroforagainstsuchresolution.29IfapollisdulydemandeditshallbetakeninsuchmannerastheChairmandirects,andtheresultofthepollshallbedeemedtobetheresolutionofthemeetingatwhichthepollwasdemanded.Thedemandforapollmaybewithdrawn.30Inthecaseofanequalityofvotes,whetheronashowofhands,oronapoll,theChairmanofthemeetingatwhichtheshowofhandstakesplace,oratwhichthepollisdemanded,shallbeentitledtoasecondorcastingvote.EMBERS31Atanymeetingofmemberswhetheronashowofhandsoronapolleveryholderofavotingsharepresentinpersonorbyproxyshallhaveonevoteforeveryvotingshareofwhichheistheholder.32SubjecttothememorandumortheseArticles,anactionthatmaybetakenbymembersoftheCompanyatameetingofmembersmayalsobetakenbyaresolutionofmembersconsentedtoinwritingorbytelex,telegram,cableorotherwrittenelectroniccommunication,withouttheneedforanynotice.33Ifacommitteeisappointedforanymemberwhoisofunsoundmind,thatmembermayvotebysuchcommittee.34IftwoormorepersonsarejointlyentitledtoaregisteredshareorsharesandifmorethanoneofsuchpersonsshallvoteinpersonorbyproxyatanymeetingofmembersorinaccordancewiththetermsofArticle31,thevoteofthatpersonwhosenameappearsfirstamongsuchvotingjointholdersintheshareregistershallalonebecounted.35Votesmaybegiveneitherpersonallyorbyproxy.36Theinstrumentappointingaproxyshallbeproducedattheplaceappointedforthemeetingbeforethetimeforholdingthemeetingatwhichthepersonnamedinsuchinstrumentproposestovote.37SubjecttoArticle38below,aninstrumentappointingaproxyshallbeinsuchformastheChairmanofthemeetingshallacceptasproperlyevidencingthewishesofthememberappointingtheproxy.38Theinstrumentappointingaproxyshallbeinwritingunderthehandoftheappointerunlesstheappointerisacorporationorotherformoflegalentityotherthanoneormoreindividualsholdingasjointownerinwhichcasetheinstrumentappointingaproxyshall7beinwritingunderthehandofanindividualdulyauthorisedbysuchcorporationorlegalentitytoexecutethesame.TheChairmanofanymeetingatwhichavoteiscastbyproxysoauthorisedmaycallforanotariallycertifiedcopyofsuchauthoritywhichshallbeproducedwithinsevendaysofbeingsorequestedfailingwhichthevoteorvotescastbysuchproxyshallbedisregarded.TIVESATMEETINGS39AnycorporationorotherformofcorporatelegalentitywhichisamemberoftheCompanymaybyresolutionofitsdirectorsorothergoverningbodyauthorisesuchpersonasitthinksfittoactasitsrepresentativeatanymeetingofthemembersoranyclassofmembersoftheCompany,andthepersonsoauthorisedshallbeentitledtoexercisethesamepowersonbehalfofthecorporationwhichherepresentsasthatcorporationcouldexerciseifitwereanindividualmemberoftheCompany.40Subjecttoanysubsequentamendmenttochangethenumberofdirectors,thenumberofthedirectorsshallbenotlessthanoneormorethanfifteen.41ThefirstdirectorordirectorsshallbeappointedbytheregisteredagentoftheCompany.Thereafter,thedirectorsshallbeappointedbythemembersorthedirectorsforsuchtermsasthemembersordirectorsmaydetermineandmayberemovedbythemembersorthedirectorsbywayofaresolution.42NotwithstandingtheprovisionsofSection114oftheAct,eachdirectorholdsofficeuntilhissuccessortakesofficeoruntilhisearlierdeathresignationorremovalbythemembersasperArticle41oraresolutionpassedbythemajorityoftheremainingdirectors.43Avacancyintheboardofdirectorsmaybefilledbyaresolutionofmembersoraresolutionpassedbythemajorityoftheremainingdirectors.44Adirectorshallnotrequireasharequalification,butneverthelessshallbeentitledtoattendandspeakatanymeetingofthemembersandatanyseparatemeetingoftheholdersofanyclassofsharesintheCompany.45Adirector,bywritingunderhishanddepositedattheregisteredofficeoftheCompany,mayfromtimetotimeappointanotherdirectororanotherpersontobehisalternate.Everysuchalternateshallbeentitledtobegivennoticeofmeetingsofthedirectorsandtoattendandvoteasadirectoratanysuchmeetingatwhichthedirectorappointinghimisnotpersonallypresentandgenerallyatsuchmeetingtohaveandexerciseallthepowers,rights,dutiesandauthoritiesofthedirectorappointinghim.EverysuchalternateshallbedeemedtobeanofficeroftheCompanyandshallnotbedeemedtobeanagentofthedirectorappointinghim.Ifunduedelayordifficultywouldbeoccasionedbyrofaresolutionofwhichhisapprovalissoughtinaccordance8withArticle70hisalternate(ifany)shallbeentitledtosignifyapprovalofthesameonbehalfofthatdirector.Theremunerationofanalternateshallbepayableoutoftheremunerationpayabletothedirectorappointinghim,andshallconsistofsuchportionofthelastmentionedremunerationasshallbeagreedbetweensuchalternateandthedirectorappointinghim.AdirectorbywritingunderhishanddepositedattheregisteredofficeoftheCompanymayatanytimerevoketheappointmentofanalternateappointedbyhim.Ifadirectorshalldieorceasetoholdtheofficeofdirector,theappointmentofhisalternateshallthereuponceaseandterminate.46Thedirectorsmay,byresolution,fixtheemolumentofdirectorsinrespectofservicesrenderedortoberenderedinanycapacitytotheCompany.Thedirectorsmayalsobepaidsuchtravelling,hotelandotherexpensesproperlyincurredbytheminattendingandreturningfrommeetingsofthedirectors,oranycommitteeofthedirectorsormeetingsofthemembers,orinconnectionwiththebusinessoftheCompanyasshallbeapprovedbyresolutionofthedirectors.47Anydirectorwho,byrequest,goesorresidesabroadforanypurposesoftheCompany,orwhoperformsserviceswhichintheopinionoftheBoardgobeyondtheordinarydutiesofadirector,maybepaidsuchextraremuneration(whetherbywayofsalary,commission,participationinprofitsorotherwise)asshallbeapprovedbyresolutionofthedirectors.48TheCompanymaypaytoadirectorwhoattherequestoftheCompanyholdsanyoffice(includingadirectorship)in,orrendersservicesto,anycompanyinwhichtheCompanymaybeinterested,suchremuneration(whetherbywayofsalary,commission,participationinprofitsorotherwise)inrespectofsuchofficeorservicesasshallbeapprovedbyresolutionofthedirectors.hallbevacatedifthedirector:(a)isremovedfromofficebyresolutionofmembers;or(b)isremovedfromofficebyresolutionofthedirectorsoftheCompany;or(c)becomesdisqualifiedtoactasadirectorunderSection111oftheAct.50(a)AdirectormayholdanyotherofficeorpositionofprofitundertheCompany(exceptthatofauditor)inconjunctionwithhisofficeofdirector,andmayactinaprofessionalcapacitytotheCompanyonsuchtermsastoremunerationandotherwiseasthedirectorsshallarrange.(b)Adirectormaybeorbecomeadirectororofficerof,orotherwisebeinterestedinanycompanypromotedbytheCompany,orinwhichtheCompanymaybeinterested,asamemberorotherwiseandnosuchdirectorshallbeaccountableforanyremunerationorotherbenefitsreceivedbyhimasdirectororofficerorfromhisinterestinsuchothercompany.Thedirectorsmayalsoexercisethevoting9powersconferredbythesharesinanyothercompanyheldorownedbytheCompanyinsuchmannerinallrespectsastheythinkfit,includingtheexercisethereofinfavourofanyresolutionsappointingthem,oroftheirnumber,directorsorofficersofsuchothercompany,orvotingorprovidingforthepaymentofremunerationtothedirectorsorofficersofsuchothercompany.Adirectormayvoteinfavouroftheexerciseofsuchvotingrightsinthemanneraforesaidnotwithstandingthathemaybe,orbeabouttobecome,adirectororofficerofsuchothercompany,andassuchinanyothermanneris,ormaybe,interestedintheexerciseofsuchvotingrightsinthemanneraforesaid.(c)NodirectorshallbedisqualifiedbyhisofficefromcontractingwiththeCompanyeitherasavendor,purchaserorotherwise,norshallanysuchcontractorarrangemententeredintobyoronbehalfoftheCompanyinwhichanydirectorshallbeinanywayinterestedbevoided,norshallanydirectorsocontractingorbeingsointerestedbeliabletoaccounttotheCompanyforanyprofitrealisedbyanysuchcontractorarrangement,byreasonofsuchdirectorholdingthatofficeorbyreasonofthefiduciaryrelationshiptherebyestablished,providedtheprocedureinArticle50(d)belowisfollowed.(d)AdirectoroftheCompanyshall,immediatelyafterbecomingawareofthefactthatheisinterestedinatransactionenteredintoortobeenteredintobytheCompany,disclosesuchinteresttotheboardofdirectors.(e)AdirectoroftheCompanyisnotrequiredtocomplywithArticle50(d)aboveif:(i)thetransactionorproposedtransactionisbetweenthedirectorandtheompany;and(ii)thetransactionorproposedtransactionisoristobeenteredintointheordinarycourseoftheCompany'sbusinessandonusualtermsandconditions.(f)ForthepurposesofArticle50(d)above,adisclosuretotheboardtotheeffectthatadirectorisamember,director,officerortrusteeofanothernamedcompanyorotherpersonandistoberegardedasinterestedinanytransactionwhichmay,afterthedateoftheentryordisclosure,beenteredintowiththatcompanyorperson,isasufficientdisclosureofinterestinrelationtothattransaction.(g)SubjecttoSection125(1)oftheAct,thefailurebyadirectort