17817-1910-Supplementary-Bills-read-a-first-time--Companies — Page 8

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(i) The objects of the company.

(2) If the company has a share capital-

() No subscriber of the memorandum may take

less than one share ;

(7) Each subscriber must write opposite to his

name the number of shares he takes.

7. The memorandum must bear the same stamp as if it Stamp and were a deed, and must be signed by each subscriber in the signature of presence of at least one witness who must attest the signa- mem

ture.

memoran-

8 Edw. 7 c 69 s. 6.

8. A company may not alter the conditions contained Restriction in its memorandum except in the cases and in the mode on alteration and to the extent for which express provision is made in of memoran- this Ordinance.

dum. Ib. s. 7.

9.-(1) A company may not be registered by a name Name of identical with that by which a company in existence is company

and change already registered, or so nearly resembling that name as to

of name. be calculated to deceive, except where the company in

Ib. s. 8. existence is in the course of being dissolved and signifies its consent in such manner as the registrar requires.

(2) If a company, through inadvertence or otherwise, is, without such consent as aforesaid, registered by a name identical with that by which a company in existence is previously registered, or so nearly resembling it as to be calenlated to deceive, the first-mentioned company may, with the sanction of the registrar, change its name,

(3) Any company may, by special resolution and with approval of the Governor signified in writing, change its

name.

(4) Where a company changes its name, the registrar shall enter the new name on the register in place of the former name, and shall issue a certificate of incorporation altered to meet the circumstances of the ease.

(5) The change of name shall not affect any rights or obligations of the company, or render defective any legal proceedings by or against the company, and any legal proceedings that might have been continued or commenced against it by its former name may he continued or com- menced against by its new name.

10.-(1) Subject to the provisions of this section a Alteration of company may, by special resolution, alter the provisions of objects of its memorandum with respect to the objects of the com- company. pany, so far as may be required to enable it-

(a) to carry on its business more economically or

more efficiently; or

(b) to attain its main purpose hy new or improved

means; or

(e) to enlarge or change the local area of its opera-

tions; or

(d) to carry on some business which under existing circumstances may conveniently or advanta- geously be combined with the business of the company; or

(e) to restrict or abandon any of the objects speci-

fied in the memorandum.

(2) The alteration shall not take effect until and except in so far as it is confirmed on petition by the court,

(3) Before confirming the alteration the court must be satisfied--

(a) that sufficient notice has been given to every holder of debentures of the company, and to any persons or class of persons whose interests will, in the opinion of the court, be affected by the alteration: and

(b) that, with respect to every cerditor who in the opinion of the court is entitled to object, and who signifies his objection in manner directed by the court, either his consent to the alteration has been obtained or his debt or claim has been discharged or has determined, or has been secured to the satisfaction of the court :

Ib. s. 9.