!
companies.
8 Edw. 7 . 69 4. 20.
Provision as
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promoting its objects, and to prohibit the payment of any dividend to its members, the Governor may by licence direct that the association bo registered as a company with limited Hability, without the addition of the word “Limited” to its name, and the association may be registered accord- ingly.
(2) A licence by the Governor under this section may be granted on such conditions and subject to such regulations. as the Governor way think fit, and those conditions and regulations shall be binding on the association, and shall if the Governor so dirent, be inserted in the memorandam and articles, or in one of those documents.
(3) The association shall on registration enjoy all the privileges of luuited companies, and be subject to all their obligations, except those of using the word “ Limite!” as any part of its unine, and of publishing its game, and of senting lists of members and directors and managers to the registrar of companies.
(4) A licence nuder this section may at any time be revoked by the Governor, and upon reveation the registrar shall enter the word Limited "at the end of the name of the association upon the register, and the association shall cense to enjoy the exemptions and privileges granted by
this section:
Provided that before a licence is so revoked the Governor shall give to the association notice in writing of his intention, and shall afford the association an opportunity of being heard in opposition to the revoention,
Companies limited by Guarantee. 22.) In the case of a company limited by guarantee to companies and not having a share expital, mud registered on or after the date of the coming into uperation of this Ordinance, every provision in the memorandum or articles or in any resolution of the company purporting to give any person a right to participate in the divisible profits of the company otherwise than as a member shall be void.
limited by guarante [b, s. 21.
Nature of
shares.
Th. a. 22.
Certificate of
shares or stuck.
1, s. 23.
Definition of member.
Jb. 5. 2+.
(2) For the purpose of the provisions of this Ordinance relating to the memorandum of a company loited by guaranter, and of this section, every provision in the memorandum or articles, or in any resolution, of way company limited by guarantee and registered on or after the date of the coming into operation of this Ordinance, purporting to divide the undertaking of the company into shares or interests shall be treated as a provision for 2 share capital, notwithstanding that the nominal amount or umber of the shares or interests is not specified thereby.
PART II.
Distline Tros and RebectioN OF SHARE CAPITAL, REGISTRATION OF UNLIMITED COMPANY
AS LIMITED, AND UNLIMITED
LANGITY OF DIRECTORS. Distribution of Share Capital,
23.-(1) The chores or other interest of any member in a company shall be personal estate, Grausierable in manner- provided by the articles of the company, and shall not be of the nature of real estate.
(2) Each sture in a company having a share capital shall be distinguished by its appropriate number.
24 A certifiente, under the common seal of the company, specifying any shares or stock held by any member. sball be prima facie evidence of the title of the member to the
shares or stock.
25.--(1) The subscribers of the memorandum of a com- pany shall be deemed to have agreed to become members of the company, and on its registration shall be cutered as members in its register of members,
(2) Every other person who agrees to become a member
of a company, and whose name is cutered in its rogistor
of members, shall be a member of the company.
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26.-(1) Every company shall keep in one or more books Register of
a register of its members, and enter therein the following members. particulars --
(7) The uames and addresses, and the occupations, if any, of the members, and in the case of a company having a share capital a statement of the shares held by cach meinher, distinguishing ench share by its number, and of the amount paid or agreed to be considered as paid on the shares of each mentber: in the ease of Chinese members their unes and addresses, and oc- cupations. if any, stall he given in Chinesa ehameters.
(77) The date at which each person was entered in
the register as'a member;
(i) The date at which any person ceased to be a
member.
(2) If a company fails in comply with this section it shall be liable to a fio not exceeding fifty dollars for every day during which the defanh eontinues; and every director and maunger of the company who knowingly and wilfully authorises or permits the default shall be liable to the like penalty.
S Edw. 7 c. 69 8. 25.
27.-) Every company having a share capital shall Aamual list once at least in every year make a list of all persons who, of members on the day of the endings anual general wiccting in the and sun- year, are members of the company, and of all persons who ar have ceased to be members since the date of the last return or (in the case of the first return) of the incorporation of the company.
(2) The list must state the names, addresses, and occupations of all the past and present members therein mentioned, and in the ease of Chinese members their names and addresses, and ovupations, if any, in Chinese chameters, and the number of shares held by each of the existing members at the date of the return, specifying shares transferred since the date of the last return or (in the case of the first return) of the incorporation of the company by persons who are still members and have censed to be member- rospectively and the dates of registration of the transfers, and must contain a semmary distinguishing between shares issued for cash and shares issued as fully or partly paid up otherwise than in cash, and specifying the following parricalars : --
(a) The amount of the share capital of the company and the mumber of the slures into which it is divided:
(W). The number of shares takou from the commence- ment of the company up to the date of the
return;
(e) The amount called up on each share: (d) The total amount of calls received;
(e) The total amount of calls unpaid;
() The total amount of the sums (if any) paid by way of commission in respect of any shares or debentures, or allowed by way of discount in respect of any debentures, since the date of the Jast return;
(g) The total number of shares forfeited;
(4) The total amount of shares or stock for which share warrants are outstanding at the date of the return 3
(The total amount of share warrauts issued and surrendered respectively since the date of the last return
(A) The number of shares or amount of stock coin-
prised in each share warrant
() The names and addresses of the persons who at the date of the return are directors of the company, or occupy the position of directors, by whatever name called;
() The total amount of debt due from the company
in respect of ali mortgages and charges which are required to be registerel with the registrar of companies under this Ordinance;
Ib. s. 28.
417