C. Find an appropriate equivalent for each modal verb in the articles from the contract below and translate them faithfully into Ukrainian.

Article 10. COMPANY FUNDS

10.1. Company shall set up a capital fund, a reserve fund and such other funds that are required by the effective Ukrainian law or stipulated by the Company's Statutes, or considered necessary by a decision of the Participants Meeting.

ARTICLE 11. CAPITAL FUND

11.1. The Participants shall set up a capital fund of the Com­pany to the value of [?] Hryvnias, which sum according to the cur­rency exchange rate established by the National Bank of Ukraine at the date of this Agreement (1 Deutsche Mark [?] Hryvnias).

11.2. The Participants' contributions to the capital fund of the Company may consist of monetary means in Ukrainian and foreign currency, buildings, erections, equipment and other material valu­ables, securities, rights to use land, water and other natural resources, as well as other proprietary rights, including rights to intellectual property.

11.3.1. The Ukrainian Participant shall contribute to the capital fund of the Company monetary means in Ukrainian currency, [mate­rial valuables and proprietary rights] to the aggregate value of [?] Hryvnias, which sum according to the currency exchange rate estab­lished by the National Bank of Ukraine at the date of this Agreement equals to [?] 1 Deutsche Mark, and his share shall constitute [?%] of the Company's capital fund, including:

11.3.1.1. Monetary means in Ukrainian currency in the amount of [?] Hryvnias, which sum according to the currency exchange rate established by the National Bank of Ukraine at the date of this Agree­ment equals to [?] Deutsche Marks.

15.5. A Participant's share, after he has made his contribution to the capital fund in full, may be acquired by the Company itself. In such a case the Company must transfer the share, if so acquired, to other Participants or to third parties in no later than 1 year of the date of acquisition. Within that period distribution of Company's profits, determination of quorum and voting at the Meeting of Participants shall be made without regard to the share acquired by the Company.

ARTICLE 16. SUCCESSORS (HEIRS) OF A PARTICIPANT

16.1. In case of reorganization or liquidation of a Participant (a legal entity) or death of a Participant (natural person) their succes­sors (heirs) shall have the priority right to join the Company.

16.2. In case the successors (the heir) refuses to join the Com­pany or the Company objects to his admission to the Company, such a successor (the heir) shall be given in cash or in any kind a part of all of the Company's property, owing to the reorganized or liquidated entity (died person), evaluated as on the date of reorganization or liquidation or death of the respective Participant. In such a case the Company's capital fund shall be decreased.

ARTICLE 18. GOVERNING BODIES

18.1. The Company's governing bodies shall be: Meeting of Par­ticipants; Director; Auditing Committee.

18.2. The Meeting of Participants shall be the highest govern­ing body of the Company. Each Participant shall have at the Meeting the number of votes proportionate to his share in the Company's capital fund.

18.3. The Director shall be the one person executive body of the Company and shall manage the Company's current activity. The Direc­tor shall be appointed by a decision of the Meeting of Participants.

18.4. The Auditing Committee shall be the body for maintaining control over activities of the executive body. Members of the Auditing Committee shall be appointed by a decision of the Meeting of Partici­pants.

18.5. Powers, responsibilities and procedures of functioning of
the Meeting of Participants, the Director and the Auditing Committee
shall be determined by the company's Statutes and the effective law
of Ukraine.

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