Indigenisation and Economic Empowerment Act updated as at 8th May 2015 2.2 Achievement of objects of the Unit Trust Account In order to achieve these objects the Board shall be entitled to: 2.2.1 create and issue an unlimited number of units in a unit portfolio; 2.2.2 acquire, receive and stand possessed of any property and donations of whatever nature; 2.2.3 acquire, receive, purchase or hold interest in any shares, bonds, stocks, equities and/or securities of whatever nature in accordance with the provisions of this Schedule; 2.2.4 establish different unit portfolios in order to provide investors with investment opportunities in more than one group of securities and other forms of investment; 2.2.5 raise funds for the benefit of the Unit Trust Account. This Schedule to bind all holders 3. The terms and conditions of this Schedule, as amended in accordance with section 13(3) of the Act from time to time, shall be binding on each unit holder and all persons claiming through him or her. Copies of this Schedule and amendments 4. A copy of this Schedule and of any amendment thereto shall be available for inspection at the offices of the chief executive officer or of any manager at all times during normal business hours and shall be supplied by the chief executive officer or any manager to any person on application at a charge to be specified by the chief executive officer with the approval of the Board. PART 3 RESPONSIBILITIES OF THE BOARD IN RELATION TO UNIT TRUST ACCOUNT Legal proceedings 5. All legal proceedings in relation to the Unit Trust Account shall be instituted by or against the Board. Liability of the Board 6.1 In relation to the Unit Trust Account, the Board shall not be under any liability on account of anything done or suffered by the Board in good faith in accordance with any request or advice of the chief executive officer or the managers. Whenever any certificate, notice, instruction or other communication is to be given by the chief executive officer or any manager to the Board, the Board may accept as sufficient evidence thereof a document signed or purporting to be signed on behalf of the chief executive officer or any manager by any two persons whose signature the Board are, for the time being, authorised by the chief executive officer to accept. 6.2 The chief executive officer may accept as sufficient evidence of any fact and in particular of the value of any investment of the cost price or sale price thereof or of any Stock Exchange quotation certificate by the chief executive officer or any manager or by a stockbroker approved by the Board. - 24 -