SCHEDULE 3MODEL ARTICLES FOR PUBLIC COMPANIES

PART 4SHARES AND DISTRIBUTIONS

PARTLY PAID SHARES

Directors’ power to forfeit sharesI159

If a notice of intended forfeiture is not complied with before the date by which payment of the call is required in the notice of intended forfeiture, the directors may decide that any share in respect of which it was given is forfeited, and the forfeiture is to include all dividends or other moneys payable in respect of the forfeited shares and not paid before the forfeiture.