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2(69) Promoter

“promoter” means a person—

a.     who has been named as such in a prospectus or is identified by the company in the annual return referred to in section 92; or

b.    who has control over the affairs of the company, directly or indirectly whether as a shareholder, director or otherwise; or

c.     in accordance with whose advice, directions or instructions the Board of Directors of the company is accustomed to act:

Provided that nothing in sub-clause (c) shall apply to a person who is acting merely in a professional capacity;