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Obligation to hold certain shares in Company in trust for Minister.
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26.—(1) Every director of the Company (other than such directors of the Company as may be determined by the Minister and by the Company or, if the Company is not the licensee, the licensee) shall hold his shares in the Company upon trust for the Minister and shall accordingly be bound to transfer, as and when required by the Minister, such shares to the Minister or a person nominated in that behalf by the Minister.
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(2) The Minister may, from time to time as occasion requires, for the purpose of providing a person appointed or intended to be appointed to be a director of the Company with the necessary qualifications, do either or both of the following things, that is to say—
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(b) require any director of the Company (other than such directors of the Company as may be determined by the Minister and by the Company or, if the Company is not the licensee, the licensee) to transfer one or more of the shares in the Company held by him to the Minister or any other person.
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