SCHEDULES.

SEVENTH SCHEDULEConditions as to Interests in Shares and Debentures of Exempt Private Company.

Exceptions for Bankruptcies, Liquidations, etc.

8

The basic conditions shall be subject to exceptions for—

a

any shares or debentures forming part of the assets in a bankruptcy or liquidation of a holder thereof; and

b

any shares or debentures held either—

i

on trusts created for the benefit of his creditors generally by a person having an interest therein ; or

ii

otherwise for the purposes of any composition or scheme made or approved under any Act by a court or an officer of a court for arranging the affairs of such a person.