ORDINANCE No. 1 of 1865.
Companies, &c. (Part I. Constitution, &c.)
Subject to the following regulations:
(1.) That no subscriber shall take less than one share.
(2.) That each subscriber of the memorandum of association shall write opposite to his name the number of shares he takes.
9. Where a company is formed on the principle of having the liability of its members limited to such amount as the members respectively undertake to contribute to the assets of the company in the event of the same being wound-up, hereinafter referred to as a company limited by guarantee, the memorandum of association shall contain the following things; (that is to say,)
(1.) The name of the proposed company, with the addition of the word "Limited" as the last word in such name:
(2.) The place within this Colony, in which the registered office of the company is proposed to be situate:
(3.) The objects for which the proposed company is to be established.
(4.) A declaration that each member undertakes to contribute to the assets of the company in the event of the same being wound-up, during the time that he is a member, or within one year afterwards, for payment of the debts and liabilities of the company contracted before the time at which he ceases to be a member, and of the costs, charges, and expenses of winding-up the company, and for the adjustment of the rights of the contributories amongst themselves, such amount as may be required, not exceeding a specified amount.
10. Where a company is formed on the principle of having no limit placed on the liability of its members, hereinafter referred to as an unlimited company, the memorandum of association shall contain the following things; (that is to say,)
(1.) The name of the proposed company:
(2.) The place within this Colony, in which the registered office of the company is proposed to be situate:
(3.) The objects for which the proposed company is to be established.
Memorandum of association of a company limited by guarantee.
Memorandum of association of an unlimited company.
681