193437-1932-Supplementary-Draft-Bill--Companies — Page 6

1017

Provisions with respect to Names of Companies.

19.-(1) No company shall be registered by a name Restriction which-

on registra tion of com-

SO certain names,

19 & 20 Geo.

(a) is identical with that by which a company panies by

in existence is already registered, or nearly resembles that name as to be calculated to deceive, except where the 5, c. 23, company in existence is in the course of s. 17. being dissolved and signifies its consent in such manner as the registrar requires; or (b) contains the words "Chamber of Com- merce," unless the company is a company which is to be registered under a licence granted in pursuance of the next following section of this Ordinance without the addition of the word "Limited" to its

name; or

(c) contains the words "Building Society." (2) Except with the consent of the Governor no company shall be registered by a name which—

(a) contains the words "Royal" or "Imperial” or in the opinion of the registrar suggests, or is calculated to suggest, the patronage of His Majesty or of any member of the Royal Family or connection with His Majesty's Government or any department thereof; or (b) contains the words "Municipal" or "Char- tered" or in the opinion of the registrar suggests, or is calculated to suggest, con- nection with any municipality or other local authority or with any society or body in- corporated by Royal Charter: or

(c) contains the word "Co-operative."

(d) contains the word "British": Provided that this paragraph shall not apply to any China company.

20.—(1) Where it is proved to the satisfaction of Power to the Governor that an association about to be formed dispense

with

as a limited company is to be formed for promoting "Limited" cominerce, art, science, religion, charity, or any other in name of useful object, and intends to apply its profits, if any, charitable or other income in promoting its objects, and to pro- and other

companies. hibit the payment of any dividend to its members, 19 & 20 Geo. the Govenor may by licence direct that the associa- 5, c. 23, tion may be registered as a company with limited s. 18. liability, without the addition of the word "Limited" to its name, and the association may be registered accordingly.

(2) A licence by the Governor under this section may be granted on such conditions and subject to such regulations as he may think fit, and those conditions and regulations shall be binding on the association, and shall, if the Governor so direct. he inserted in the memorandum and articles, or in one of those documents.

(3) The association shall on registration enjoy all the privileges of limited companies, and be subject to all their obligations, except those of using the word "Limited" as any part of its name, and of publishing its name, and of sending lists of members to the registrar of companies.

(4) A licence under this section may at any time be revoked by the Governor, and upon revocation the registrar shall enter the word "Limited" at the end of the name of the association upon the register, and the association shall cease 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 revocation.