Indigenisation and Economic Empowerment Act updated as at 8th May 2015 Distribution statements 43.1 The Board shall on or before the 31st day of August in each year, or as soon as possible thereafter, cause the managers to make up a distribution statement certified by the auditors covering the distribution in respect of the accounting period ending on the accounting date last preceding the date aforesaid and such statements shall show: 43.1.1 the gross income per unit for the accounting period to which the statement relates, the amount of income tax, if any, to be deducted therefrom, and the corresponding net amount; 43.1.2 the amount per unit of a capital nature distributable and its source; 43.1.3 the amount per unit charged in respect of management participation for the accounting period in question; 43.1.4 the net amount per unit brought forward from the previous accounting period and that carried forward to the following accounting period, distinguishing in each case between income and capital; 43.1.5 the gross and net amount per unit to be distributed to the unit holders, distinguishing between income and capital; 43.1.6 if in the opinion of the Board and the auditors the amount to be distributed to unit holders has been increased or decreased by reason of the sale or purchase of securities cum dividend, the net amount of such increase or decrease shall be stated unless the Board and the auditors agree that it is not material and does not substantially affect the amount to be distributed to unit holders; 43.1.7 the percentage of the total value of the deposited property on the accounting date in question represented by each investment and the percentage representing cash, other than cash to be transferred to the distribution account in respect of the accounting period; 43.1.8 the bid price of units (ex dividend) on the accounting date. Payment of distributions 44.1 Any moneys payable by the Board to a unit holder under this Schedule shall be paid by cheque or warrant sent through the post to the Registered address of such unit holder. 44.2 Every such cheque or warrant shall be made payable to the order of the person to whom it is delivered or sent and payment of the cheque or warrant shall be a satisfaction of the moneys payable. 44.3 Where an authority in that behalf has been received by the Board in such form as the auditors consider sufficient, the Board shall pay the amount distributable to the unit holder to his or her bankers or other agent and the receipt of such bankers or other agent shall be a good discharge therefor. Tax certificates 45.1 In respect of each distribution payment the Board shall issue to the unit holder concerned a tax certificate to be prepared by the auditors or by the managers in a form to be approved by the Board. - 38 -