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ing in force in the Commonwealth of The Bahamas.
(5) To do all such other things as are incidental to or which the Com-
pany may think conducive to the attainment of all or any of the above
objects.
And it is hereby declared that the intention is that each of the objects speci-
fied in each paragraph of this clause shall, except where otherwise expressed
in such paragraph, be an independent main object and be in no wise limited
or restricted by reference to or inference from the terms of any other para-
graph or the name of the Company.
5. The Company has no power to:
(1) carry on business with a person resident in The Bahamas as so
treated by the Controller of Exchange by directions given under regu-
lation 41 (2) of the Exchange Control Regulations, but does not in-
clude a company incorporated under the Act;
(2) own an interest in real property situated in The Bahamas other than
a lease of property for use as an office from which to communicate
with members or where books and records of the Company are pre-
pared or maintained;
(3) carry on banking business or trust business;
(4) carry on business as an insurance or a reinsurance company; or
(5) carry on the business of providing the registered office for compa-
nies.
6. The shares in the Company shall be issued in the currency of
the United States of America.
7. The authorized capital of the Company is Five Thousand ($5,000.00) dol-
lars in the currency of the United States of America divided into Five
thousand (5,000) shares of U.S. $1.00 each with one vote for each share.
The directors shall by resolution or the members shall by unanimous
shareholder agreement determine, at their discretion, and from time to
time, how many shares thereof are to be issued as registered shares and
how many shares thereof are to be issued as bearer shares.
8. The shares shall be divided into such number of classes and series as the
directors, or the members by unanimous shareholder agreement shall from
time to time determine and until so divided shall comprise one class and
series.
9. The directors or the members by unanimous shareholder agreement
shall by resolution have the power to issue any class or series of shares
that the Company is authorized to issue in its capital, original or in-
creased, with or subject to any designations, powers, preferences, rights,
qualifications, limitations and restrictions.
10. Where shares are issued to bearer, the bearer, identified for this purpose by
the number of the share certificate, shall be requested to give to the Com-
pany the name and address of an agent or attorney for service of any notice,
        ing in force in the Commonwealth of The Bahamas.
        (5) To do all such other things as are incidental to or which the Com-
        pany may think conducive to the attainment of all or any of the above
        objects.
And it is hereby declared that the intention is that each of the objects speci-
fied in each paragraph of this clause shall, except where otherwise expressed
in such paragraph, be an independent main object and be in no wise limited
or restricted by reference to or inference from the terms of any other para-
graph or the name of the Company.
5. The Company has no power to:
        (1) carry on business with a person resident in The Bahamas as so
        treated by the Controller of Exchange by directions given under regu-
        lation 41 (2) of the Exchange Control Regulations, but does not in-
        clude a company incorporated under the Act;
        (2) own an interest in real property situated in The Bahamas other than
        a lease of property for use as an office from which to communicate
        with members or where books and records of the Company are pre-
        pared or maintained;
        (3) carry on banking business or trust business;
        (4) carry on business as an insurance or a reinsurance company; or
        (5) carry on the business of providing the registered office for compa-
        nies.
6. The shares in the Company shall be issued in the currency of
    the United States of America.
7. The authorized capital of the Company is Five Thousand ($5,000.00) dol-
    lars in the currency of the United States of America divided into Five
    thousand (5,000) shares of U.S. $1.00 each with one vote for each share.
    The directors shall by resolution or the members shall by unanimous
    shareholder agreement determine, at their discretion, and from time to
    time, how many shares thereof are to be issued as registered shares and
    how many shares thereof are to be issued as bearer shares.
8. The shares shall be divided into such number of classes and series as the
    directors, or the members by unanimous shareholder agreement shall from
    time to time determine and until so divided shall comprise one class and
    series.
9. The directors or the members by unanimous shareholder agreement
    shall by resolution have the power to issue any class or series of shares
    that the Company is authorized to issue in its capital, original or in-
    creased, with or subject to any designations, powers, preferences, rights,
    qualifications, limitations and restrictions.
10. Where shares are issued to bearer, the bearer, identified for this purpose by
    the number of the share certificate, shall be requested to give to the Com-
    pany the name and address of an agent or attorney for service of any notice,
                                     78