Companies.
shall apply notwithstanding any provisions contained in any Ordinance, Act of Parliament, royal charter, or other instrument constituting or regulating the company.
(5) Nothing in this section shall authorize the company to alter any such provisions contained in any instrument constituting or regulating the company, as would, if the company had originally been formed under this Ordinance, have been required to be contained in the memorandum and are not authorized to be altered by this Ordinance.
(6) Nothing in this Ordinance shall derogate from any power of altering its constitution or regulations which may, by virtue of any Ordinance, Act of Parliament or other instrument constituting or regulating the company, be vested in the company.
(7) In this section the expression "instrument" includes deed of settlement, contract of copartnery, cost book regulations and letters patent.
[308
308. (1) Subject to the provisions of this section, a company registered in pursuance of this Part may by special resolution alter the form of its constitution by substituting a memorandum and articles for a deed of settlement.
(2) The provisions of this Ordinance with respect to confirmation by the court and registration of an alteration of the objects of a company shall so far as applicable apply to an alteration under this section with the following modifications-
(a) there shall be substituted for the printed copy of the altered memorandum required to be delivered to the Registrar a printed copy of the substituted memorandum and articles; and
(b) on the registration of the alteration being certified by the Registrar the substituted memorandum and articles shall apply to the company in the same manner as if it were a company registered under this Ordinance with that memorandum and those articles, and the company's deed of settlement shall cease to apply to the company.
(3) An alteration under this section may be made either with or without any alteration of the objects of the company under this Ordinance.
[CAP. 32
Power to memorandum for deed of
substitute
and articles
settlement. 19 & 20 Geo. 5, c. 23, s. 334.
193