Section 3: Upon the incorporation of the Company the Government and the

Corporation shall- (a) Procure the transfer to them respectively of such shares in the capital of the Company as have been taken by the subscribers to the Memorandum of Association of the Company and the allotment to the Government and to the Corporation respectively of such numbers of shares in the capital of the Company at par payable as to one shilling per share on allotment as will result in their respectively having the under-mentioned shareholdings- The Government-100,000 "B" shares The Corporation-50,000 "A" shares and the Government and the Corporation shall make such unconditional applications to the Company for shares as may be necessary for this purpose. (b) Procure that the management of the Company shall be initially vested in a Board of Directors consisting of five Directors two of whom shall be the nominees of the Government and the other three of whom shall be nominees of the Corporation and that one of the nominees of the Corporation shall be the first Chairman of the Board of Directors.