Irish Aubrac Cattle Breed Society Limited

22. INCAPACITY
If a member or person claiming, through a member, becomes of unsound mind and no Council of his
estate or trustee of his property has been duly appointed, the Society acting through its Council may,
when it is proved to the satisfaction of the Council of the Society that it is just and expedient so to do,
pay the amount of the stock, loans and deposits belonging to such member to any person whom they
shall judge proper to receive the same on his behalf whose receipt shall be a good discharge to the
Society for any sum so paid.
23. BANKRUPTCY
If any member becomes bankrupt, his property in the Society shall be transferable or payable to his
assignees in bankruptcy.
24. PAYMENTS
All payments or transfers made by the Council under the provisions of the Acts or these Rules with
respect to payments or transfers to or on behalf of deceased or members of unsound mind to any
person who at the time appears to the Council to be entitled thereunder shall be valid and effectual
against any demand made upon the Council or the Society by any other person.
25.NOMINATIONS
a) A member of the Society not being under the age of 16 years may, by writing under his hand
delivered at or sent to the Registered Office of the Society during the lifetime of such member
or made in a book kept thereat, nominate any person or persons to or among whom there
shall be transferred at his decease such property in the Society as may be his at the time of
his decease (whether in shares, loans, deposits or otherwise) or so much thereof as is specified
in such nomination, if the nomination does not comprise the whole. If on the death of the
nominator the amount of his property in the Society comprised in the nomination exceeds
€15,000 or such other maximum as may be fixed from time to time by law, the nomination
shall be valid to the extent of the sum of €15,000 or such other maximum as may be fixed
from time to time by law but not further or otherwise.
Provided that a person so nominated shall not be an officer or servant of the Society unless
such Officer or servant is the husband, wife, father, mother, child, brother, sister, nephew or
niece of the nominator.
b) A nomination so made may be revoked or varied by a subsequent nomination signed and
delivered or sent or made as aforesaid or by any similar document in the nature of a
revocation or variation under the hand of the nominator so delivered sent or made as
aforesaid, but shall not be revocable or variable by the will of the nominator or by any codicil
thereto.
c) The Society shall keep a book wherein the names of all persons so nominated and all
revocations or variations (if any) of such nominations shall be recorded and the property

comprised in any such nomination to an amount not exceeding €15, 000 or such other
maximum as may be fixed from time to time by law, shall be payable or transferable to the
nominee although the Rules of the Society declare the Shares not to be transferable.
d) The marriage of a member of the Society shall operate as a revocation of any
nomination made by him before such marriage, provided that, in the event of an
Officer of the Society having transferred any property of a member to a nominee, in
ignorance of a marriage contract subsequent to the date of the nomination, the
receipt of the nominee shall be valid discharge to the Society, and the Society shall be
under no liability to any other person claiming such property.
e) On receiving satisfactory proof of the death of a nominator the Council shall, subject to the
limitation on the amount in the Acts provided, either transfer the property comprised in the
nomination in the manner directed by the nomination, or pay to every person entitled
thereunder, the full value of the property given to him.
f) Where a nominee who is nominated under the provisions of the Acts is under 16 years of age
the Society may pay the sum nominated to either parent, or to a guardian of the nominee, or
to any other person of full age who will undertake to hold the same on trust for the nominee
or to apply the same for his benefit and whom the Society may think a fit and proper person
for the purpose, and the receipt of such parent, guardian, or other person shall be a sufficient
discharge to the Society for all monies so paid.
g) The member shall pay for the recording or registering of every nomination, revocation, or
variation, whether or not accompanied by a fresh nomination, 1c, and one fee only shall be
revocation, or variation, if more than one.

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