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Application of Table A in First Sche- dule in certain cases. 25 & 26 Viet. c. 89 s. 15.
Signature No. 1.] THE ORDINANCES OF HONGKONG : [A.D. 1865.
having a capital divided into shares, each subscriber shall take one share at the least, and shall write opposite to his name in the memorandum of association the number of shares which he takes.
18. In the case of a company limited by shares, if the memorandum of association is not accompanied by articles of association, or in so far as the articles do not exclude or modify the regulations contained in the Table marked A in the First Schedule to this Ordinance, the last-mentioned regulations shall, so far as the same are applicable, be deemed to be the regulations of the company in the same manner and to the same extent as if they had been inserted in articles of association and the articles had been duly registered.
19.—(1.) The articles of association shall be printed, and shall be signed by each subscriber in the presence of, and be attested by, one witness at the least.
Effect of articles. Ib. s. 16.
Power for company to alter articles of association by special resolution. Ib. s. 50.
Registration of memo- randum and articles, and
(2.) They shall, when registered, bind the company and the members thereof to the same extent as if each member had subscribed his name and affixed his seal thereto, and there were in the articles contained, on the part of himself, his heirs, executors, and administrators, a covenant to conform to all the regulations contained in such articles, subject to the provisions of this Ordinance.
(3.) All moneys payable by any member to the company in pursuance of the conditions and regulations of the company, or any of such conditions or regulations, shall be deemed to be in the nature of a specialty debt due from such member to the company.
20.—(1.) Subject to the provisions of this Ordinance and to the conditions contained in the memorandum of association, any company formed under this Ordinance may, in general meeting, from time to time, by special resolution, alter all or any of the regulations of the company contained in the articles of association or in the Table marked A in the First Schedule to this Ordinance, where such Table is applicable to the company, or make new regulations to the exclusion of or in addition to all or any of the regulations of the company.
(2.) Any regulations so made by special resolution shall be deemed to be regulations of the company of the same validity as if they had been originally contained in the articles of association, and shall be subject in like manner to be altered or modified by any subsequent special resolution.
General Provisions.
21.—(1.) The memorandum of association and the articles of association, if any, shall be delivered to the Registrar of Companies who shall retain and register the same.