Power of company to hold lands. 19 & 20 Geo. 5, c. 23,
s. 14.
Conclusive- ness of certificate
of incorpora- tion.
19 & 20 Geo.
5, c. 23.
• s. 15.
company as limited.
19 & 20 Geo. 5, c. 23, s. 16.
1266
•
(2) From the date of incorporation mentioned in the certificate of incorporation, the subscribers of the memorandum, together with such other persons as may from time to time become members of the company, shall be a body corporate by the name contained in the memorandum, capable forthwith of exercising all the functions of an incorporated com- pany, and having perpetual succession and a common seal, but with such liability on the part of the mem- bers to contribute to the assets of the company in the event of its being wound up as is mentioned in this Ordinance.
16.-(1) A company incorporated under this Ordin- ance shall have power to hold lands:
Provided that a company formed for the purpose of promoting art, science, religion, charity or any other like object not involving the acquisition of gain by the company or by its individual members, shall not, without the licence of the Governor hold more than two acres of land, but the Governor may by licence empower any such company to hold lands in such quantity, and subject to such conditions, as he may think fit.
(2) A licence given by the Governor under this section shall be in accordance with the form set out in the Second Schedule to this Ordinance, or as near thereto as circumstances admit.
17. (1) A certificate of incorporation given by the registrar in respect of any association shall be conclusive evidence that all the requirements of this Ordinance in respect of registration and of matters precedent and incidental thereto have been complied with, and that the association is a company authorised to be registered and duly registered under this Ordin-
ance.
(2) A statutory declaration by a solicitor of the Supreme Court, engaged in the formation of the com- pany, or by a person named in the articles as a director or secretary of the company, of compliance with all or any of the said requirements shall be produced to the registrar, and the registrar may accept such a declaration as sufficient evidence of compliance.
Registration
18. (1) Subject to the provisions of this section. of unlimited a company registered as unlimited may register under this Ordinance as limited, or a company already registered as a limited company may re-register under this Ordinance, but the registration of an unlimited company as a limited company shall not affect the rights or liabilities of the company in respect of any debt or obligation incurred, or any contract entered into, by, to, with, or on behalf of the company before the registration, and those rights or liabilities may be enforced in manner provided by Part IX. of this Ordinance in the case of a company registered in pursuance of that Part.
(2) On registration in pursuance of this section. the registrar shall close the former registration of the company, and may dispense with the delivery to him of copies of any documents with copies of which he was furnished on the occasion of the original registra- tion of the company, but, save as aforesaid, the registration shall take place in the same manner and shall have effect as if it were the first registration of the company under this Ordinance, and as if the provisions of the Ordinances under which the company was previously registered and regulated had been contained in different Ordinances from those under which the company is registered as a limited com- pany.
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