Section 72 — Power to nominate

(1) Every holder of securities of a company may, at any time, nominate, in
the prescribed manner, any person to whom his securities shall vest in the event of his death.
(2) Where the securities of a company are held by more than one person jointly, the joint holders may
together nominate, in the prescribed manner, any person to whom all the rights in the securities shall vest
in the event of death of all the joint holders.
(3) Notwithstanding anything contained in any other law for the time being in force or in any
disposition, whether testamentary or otherwise, in respect of the securities of a company, where a
nomination made in the prescribed manner purports to confer on any person the right to vest the securities
of the company, the nominee shall, on the death of the holder of securities or, as the case may be, on the
death of the joint holders, become entitled to all the rights in the securities, of the holder or, as the case may
be, of all the joint holders, in relation to such securities, to the exclusion of all other persons, unless the
nomination is varied or cancelled in the prescribed manner.
(4) Where the nominee is a minor, it shall be lawful for the holder of the securities, making the
nomination to appoint, in the prescribed manner, any person to become entitled to the securities of the
company, in the event of the death of the nominee during his minority.