WHEREAS East Coast Permanent Trustees Limited (hereinafter referred to as the company) was duly incorporated under the name of East Coast Perpetual Trustees Limited on the 17th day of June 1929 as a private company under the Companies Act 1908: And whereas on the 7th day of November 1929 the name of the company was changed to East Coast Permanent Trustees Limited: And whereas by the East Coast Permanent Trustees Limited Act 1962 (hereinafter referred to as the principal Act) certain powers were conferred upon the company: And whereas the company is now a trustee company within the meaning of the Trustee Companies Act 1967: And whereas by subsection (1) of section 20 of the principal Act (as amended by section 7(1) of the Decimal Currency Act 1964) it is enacted that, in the event of the company being wound up, every then present and past member of the company shall be liable to contribute to the assets of the company to the extent of $8 upon each share of which the member then is or has been within 1 year, or (in the case of a director of the company) within 2 years, next before the commencement of the winding up, the holder, over and above the amount (if any) unpaid on the shares in respect of which he may be liable as a present or a past member: And whereas on the 7th day of December 1962 (being the date of commencement of the principal Act) the capital of the company was £25,000 divided into 25,000 shares of £1 each, all fully paid up: And whereas since the 7th day of December 1962 the capital of the company has been increased several times: And whereas immediately prior to the 31st day of December 1965 the capital of the company was £38,000 divided into 38,000 shares of £1 each, all fully paid up: And whereas on the 31st day of December 1965, in anticipation of the coming into force of Parts II and III of the Decimal Currency Act 1964, each of the then existing shares of £1 each in the capital of the company was subdivided into 2 shares of 10 shillings each: And whereas when the resolution to subdivide the shares of the company as aforesaid was passed it was overlooked that the resolution would have the effect, in the event of the company being wound up, of doubling the liability imposed on the then present and past members of the company by subsection (1) of section 20 of the principal Act: And whereas the present capital of the company is $100,000 divided into 100,000 shares of $1 each, all fully paid up: And whereas, having regard to the subdivision of the shares of the company as aforesaid on the 31st day of December 1965, it is expedient to amend section 20 of the principal Act: