6. Purchase price to be paid by Government on revocation of licence
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(1) The Government shall pay to the respective registered debt holders of the Company, which the Government is obliged to purchase in accordance with section 5, a purchase price equal to the outstanding amount of the principal moneys represented by the debt held by them respectively at the date of the revocation of the licence together with all unpaid interest which has accrued up to such date on such moneys.
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(2) The Government shall pay to the respective registered holders of all preference shares issued by the Company, which the Government is obliged to purchase in accordance with section 5, the fair market value of such shares as determined in accordance with section 7 at the date of the revocation of the licence together with a sum of money equal to the amount of the arrears (if any) of any fixed cumulative dividend (if any) on the preference shares held by them respectively such dividend (whether earned or declared or not) being calculated down to the revocation of the licence.
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(3) If the licence is revoked under section 5, the Government shall pay to the respective registered holders of all ordinary shares in the capital of the Company, which the Government is obliged to purchase in accordance with that section, a purchase price equal to the fair market value of such shares as determined in accordance with section 7. (Substituted by Act 2 of 2016)
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(4) Any purchase price payable by the Government in accordance with section 5 and this section for any shares or debt of the Company shall be paid on the date of revocation of the licence and any unpaid portion of the purchase price shall bear interest, from such date of revocation until payment, at a rate equal to the highest rate of interest payable under any debt incurred by the Company and outstanding on such date; and such unpaid portion of any debt shall have a fixed charge security interest of first rank and unpaid amounts for shares of second rank, on all the assets of the Company.
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(5) If the Commission shall serve upon the Company a valid notice revoking the licence, the Company shall not thereafter, except with the previous written consent of the Government, issue any share or incur any debt. (Substituted by Act 2 of 2016)
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(6) For the purposes of this section —
“ordinary share” means the securities representing an interest in the equity capital of the Company giving to the holders of such securities the right to vote as shareholders of the Company, the right to receive dividends when declared by the Company and the right to participate in the distribution of the assets of the Company in case of liquidation; but such rights are held without preference with respect to the other securities of the Company unless expressly mentioned;
“preference shares” means the securities representing an interest in the equity capital of the Company giving to the holders of such securities different rights from those held by the owners of ordinary shares, concerning the right to vote as a shareholder, receive dividends and participate in the distribution of the Company's assets in case of liquidation;
“shares” means ordinary shares and preference shares that may be issued by the Company.