Indigenisation and Economic Empowerment Act updated May 2011 PART 14 AMENDMENT OF SECOND SCHEDULE Amendment 55 Unless the Board certifies in writing that in its opinion such amendment is required only to enable the provisions of this Schedule to be more conveniently or economically managed or otherwise to benefit the unit holders, and that it does not prejudice the interests of the unit holders or any of them and does not alter the fundamental provisions or objects of the Unit Trust Account or operate to release the Board or the managers from any responsibility to unit holders, no such amendment shall be made without the sanction of an extraordinary resolution of a meeting of the unit holders duly convened and held in accordance with Part 11. PART 15 NOTICES Service of notice 56. The following provisions shall apply to the serving of notices 56.1 Any notice required to be served upon a unit holder shall be deemed to have been duly given if sent by post to, or left at, his or her address as appearing in the register. Any notice served by post shall be deemed to have been served on the fifth day following that on which the letter is posted, and in proving such service it shall be sufficient to prove that the letter was properly addressed, stamped and posted. 56.2 Service of a notice or document on any one of several joint unit holders shall be deemed effective service on the other joint unit holders. 56.3 Any notice or document sent by post to, or left at, the registered address of a unit holder shall notwithstanding that such unit holder is dead or insolvent and whether or not the Board or the managers have notice of his or her death or insolvency be deemed to have been duly served and such service shall be deemed a sufficient service on all persons interested (whether jointly with, or as claiming though or under him or her, in the unit concerned. THIRD SCHEDULE (SECTION 15(3)) PROVISIONS APPLICABLE TO THE ADMINISTRATION OF FUND Application of Fund 1. Moneys in the Fund shall be applied to the purposes referred to in section 12 and to the cost of administering the Fund. Financial year of Fund 2. The financial year of the Fund shall be the period of twelve months ending on the 31st December each year. - 41 -