COMPANIES.
No. 58 of 1911.
2003
(2) No subscriber of the memorandum may take less than one share.
(3) Each subscriber must write opposite to his name the number of shares he takes.
5. In the case of a company limited by guarantee-
(1) The memorandum must state-
Memorandum
of company limited by guarantee.
8 c. 69, s. 4.
(i) the name of the company, with "Limited" as the last word in its name;
[(ii), rep. No. 31 of 1915.]
(iii) the objects of the company;
(iv) that the liability of the members is limited;
(v) that each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member, or within one year afterwards, for payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the costs, charges, and expenses of winding up, and for adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified amount.
(2) If the company has a share capital-
(i) the memorandum must also state the amount of share capital with which the company proposes to be registered and the division thereof into shares of a fixed amount;
(ii) no subscriber of the memorandum may take less than one share;
(iii) each subscriber must write opposite to his name the number of shares he takes.
6. In the case of an unlimited company-
(1) The memorandum must state
(i) the name of the company;
[(ii), rep. No. 31 of 1915.]
(iii) the objects of the company.
As amended by No. 31 of 1915.
Memorandum of unlimited
company. 5 Edw. 7. c. 69, s. 5.