Pete Khumalo incorporated the public company Lion Force Ltd in $2000.$ In terms of the Lion Force Ltd$.\text{'}$s memorandum of incorporation, Pete Khumalo, Jake Ferreira and Johnny Kumar were appointed as the directors of the company. Lion Force Ltd has held an annual general meeting $($AGM$)$ every year at the end of July since the company's incorporation. Despite the AGM being held every year, under which circumstances will Lion Force Ltd be required to hold meetings? Make specific reference to legislation in your answer. $(15$ marks$)$

Johnny Kumar wishes to retire early and has resigned as director of Lion Force Ltd$.$ He wants to transfer his shares to a new member of the board, Adisha Kiper. Explain the procedure which Johnny Kumar must follow to transfer his shares to Adisha Kiper. In your answer, make reference to the relevant authority. $(10$ marks$)$