18AShare capital of SMEC

#### 18A Share capital of SMEC (1) As from the commencement of this Part, SMEC shall have a share capital divided into shares of $1 each. (2) As soon as practicable after the commencement of this Part, the Minister shall determine, in writing, whether SMEC is to issue shares under section 18B at par or at a premium per share of a specified amount. (3) The amount of SMEC’s share capital shall be the number of whole dollars in the amount ascertained in accordance with the formula:  where: Issue Price is the number of dollars in the amount that is the sum of: (a) $1, being the nominal value of each of SMEC’s shares; and (b) the amount of the premium per share (if any) determined under subsection (2). (4) As from the transition, this section has effect subject to the Companies Act 1981.