Indigenisation and Economic Empowerment Act updated as at 8th May 2015 45.2 In the case of any distribution made on liquidation of the Unit Trust Account, each tax certificate shall show what proportion of the distribution represents capital and what proportion represents income. Accounts 46.1 The managers shall forward to unit holders not less frequently than once a year but not more than six months after the end of the accounting period to which it relates an account containing such information as may be required by the Board in consultation with the managers. 46.2 The account shall be audited by independent auditors of a reputable firm, and shall be accompanied by a certificate of the auditors to the effect that the account has been examined with the books and the records of the Unit Trust Account and of the managers in relation hereto and that the auditors have obtained all the explanations and information they have required. The auditors shall further report whether the account is in their opinion properly drawn up in accordance with such books and records to disclose the profits or losses accruing to the managers from the Unit Trust Account. 46.3 The managers shall forward to the Minister of Finance once every year, audited accounts of the Unit Trust Account within six months of the end of the financial year. PART 11 MEETINGS OF UNIT HOLDERS Calling of meetings 47. A meeting of unit holders may be called at any time by: 47.1 the Board on its own account; or 47.2 on the request of unit holders holding not less than twenty five percent (25%) of the units then in issue; or 47.3 the managers. Notice of meetings 48.1 Not less than twenty-one (21) days notice, inclusive of the day on which the notice is served or is deemed to be served and of the day for which the notice is given, shall be given by the person calling the meeting to the unit holders, the Board and managers as provided in Part 14. 48.2 The notice shall specify the place and time of the meeting and the terms of any resolutions to be proposed. 48.3 The accidental omission to give notice to or the non-receipt of a notice by any of the unit holders shall no invalidate the proceedings at any meeting. Quorum 49.1 The necessary quorum shall be sufficient persons present in person or proxy representing not less than fifteen per centum (15%) of all units then in issue, and no business shall be transacted at any meeting unless the requisite quorum is present at the commencement of business. 49.2 If within an hour from the time appointed for the meeting a quorum is not present, the meeting shall be adjourned to a day not less than fifteen (15) days thereafter, at a time and place - 39 -