Common use of Limitations on Ownership Clause in Contracts

Limitations on Ownership. The Company may restrict transfers of the Shares where such transfer might result in ownership of Shares exceeding the prescribed limits under applicable law or the Company’s articles of association. The Company may also restrict, in such manner as it deems reasonably appropriate, transfer of the American Depositary Shares where such transfer may result in the total number of Shares beneficially owned by an Owner or Beneficial Owner to exceed the prescribed limits under any applicable law or the Company’s articles of association. The Company may in its sole discretion, instruct the Depositary to take reasonable steps with respect to the ownership interest of any Owner or Beneficial Owner in excess of the limitation set forth in the preceding sentence, including but not limited to a mandatory sale or disposition on behalf of an Owner or Beneficial Owner of the Shares represented by the American Depositary Shares held by such an Owner or Beneficial Owner in excess of such limitations, if and to the extent such disposition is reasonably practicable and permitted by applicable law.

Appears in 2 contracts

Sources: Deposit Agreement (Bank of New York / Adr Division), Deposit Agreement (Ping an Insurance (Group) Co of China LTD)