No.12 BANKING A!-.ffiNDI'>ffi'<T (2) For so long as a shareholder of a banking institution or controlling company fails or refuses to comply with a request in terms of section 15C(4), he or she shall not, either personally or by proxy, cast a vote attached to the share nor receive a dividend payable on the share. (3) The validity of any resolution adopted by a banking institution or controlling company shall not be affected by a vote cast in contravention of subsection (l)(c) or (2), if the resolution was adopted by the requisite majority of votes which were validly cast. (4) A dividend referred to in subsection (1) or (2) shall accrue to the banking institution or controlling company concerued. (5) Before requiring a shareholder to divest himself or herself of a share in terms of subsection (1), the Registrar shall inform(a) the shareholder; and (b) the person from whom he or she acquired the share, if that person is readily identifiable; and (c) the banking institution or controlling company concerned; of his or her reasons for requiring the shareholder to do so, and shall give all those persons an adequate opportunity to make representations in the matter. (6) If a person fails or refuses without just cause to divest himseif or herself of a share after having been required to do so in terms of subsection (5), the Registrar may by written notice to the person declare the transaction by which he or she acquired the share to be void, whereupon the transaction shall become void and the person shall be divested of all his or her rights in the share. (7) Subject to section 73, a shareholder who has been required to divest himself or herself of any shares in terms of subsection (5) and who fails without just cause to comply with the requirement within a reasonable period shall be subject to the penalties refeiTed to in section 15B(8). 15E Divestment of shares to prevent undue influence by shareholder (1) If the Registrar is satisfied that a shareholder of a banking institution or controlling company has unlawfully or improperly influenced a decision of the board of the institution or company or any of its principal officers, or has attempted so to influence such a decision, the Registrar may, subject to this section, by written notice require the shareholder to divest himself or herself of all or any of his or her shares in the banking institution or controlling company concerned. (2) Before requiring a shareholder to divest himself or herself of any shares in terms of subsection (1), the Registrar shall infonn the shareholder and the banking institution or controlling company concerned, in writing, of his or her reasons for requiring the shareholder to do so and shall give the shareholder and the institution or company an adequate opportunity to make representations in the matter. (3) Subject to section 73, a shareholder who has been required to divest himself or herself of any shares in terms of subsection ( 1) and who 216 2015