Examples of Bermuda Act in a sentence
In any case where such declaration has not been made, the winding up will be a creditors’ voluntary winding up.In the case of a members’ voluntary winding up of a company, the company in general meeting must appoint one or more liquidators within the period prescribed by the Bermuda Act for the purpose of winding up the affairs of the company and distributing its assets.
Other than the Bermuda Act, the Delaware Code and other than competition statutes, Interwave is not subject to any business combination, control share acquisition, fair price or similar statute that applies to the Amalgamation or any other transaction contemplated by this Agreement.
Clause 6 of the Memorandum of Association also sets out the objects for which the Company was formed, including acting as a holding and investment company, and its powers, including the powers set out in the First Schedule to the Bermuda Act, excluding paragraph 8 thereof and clause 7 of the Memorandum of Association sets out the powers of the Company.
All Shares purchased by the Company (other than treasury shares held by the Company to the extent permitted under the Bermuda Act) will be automatically de-listed by the SGX-ST, and certificates in respect thereof will be cancelled and destroyed by the Company as soon as reasonably practicable following settlement of any such purchase or acquisition.
Subject to the Bermuda Act, any preference shares may be issued or converted into shares that are liable to be redeemed, at a determinable date or at the option of the Company or, if so authorised by the Memorandum of Association, at the option of the holder, on such terms and in such manner as the Company before the issue or conversion may by ordinary resolution determine.
The company is required to maintain its share register in Bermuda but may, subject to the provisions of the Bermuda Act, establish a branch register outside Bermuda.
Any Share which is purchased or acquired by the Company shall, unless held as treasury shares to the extent permitted under the Bermuda Act, be deemed cancelled immediately on purchase, and all rights and privileges attached to that Share will expire on cancellation.
Interwave and Merger Sub will amalgamate and merge with each other in accordance with Section 104B of the Bermuda Act and the Delaware Code, and the separate corporate existence of Interwave shall cease and Merger Sub shall continue as the Amalgamated Company.
Additi- onal billable sums incurred will be invoiced follow- ing the event, no later than 31 December 2018.
Under the Bermuda Act, only those persons who agree to become shareholders of a Bermuda company and whose names are entered on the register of members of such a company are considered members.