2076
Application.
Powers of the Court.
No. 58 of 1911.
COMPANIES.
(2) This Ordinance applies to every company registered in this Colony either before or after the commencement of this Ordinance and notwithstanding that the whole or part of its business is or may be carried on elsewhere.
(3) The Court shall not, in dealing with or making orders in respect of applications made to it under this Ordinance, take into consideration the fact that it may be difficult or impossible to enforce them.
Prohibition of partnerships exceeding certain number. 8 Edw. 7 c. 69 s. 1.
Mode of forming incorporated company. ib. s. 2.
PART I.
CONSTITUTION AND INCORPORATION.
Prohibition of Large Partnerships.
2. No company, association, or partnership consisting of more than 20 persons shall be formed for the purpose of carrying on the business of banking or any other business that has for its object the acquisition of gain by the company, association, or partnership, or by the individual members thereof, unless it is registered as a company under this Ordinance, or is formed under or in pursuance of some other Ordinance, or Act, or of a charter of incorporation, or of letters patent.
Memorandum of Association.
3. Any 7 or more persons (or, where the company to be formed will be a private company within the meaning of this Ordinance, any 2 or more persons) associated for any lawful purpose may, by subscribing their names to a memorandum of association and otherwise complying with the requirements of this Ordinance in respect of registration, form an incorporated company, with or without limited liability (that is to say), either—
(i) a company having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them (in this Ordinance termed a company limited by shares); or
(ii) a company having the liability of its members limited by the memorandum to such amount as the members may respectively thereby undertake to contribute to the assets of the company in the event of its being wound up (in this Ordinance termed a company limited by guarantee); or
(iii) a company not having any limit on the liability of its members (in this Ordinance termed an unlimited company).
2076
Application.
Powers of the Court.
No. 58 of 1911.
COMPANIES.
(2) This Ordinance applies to every company registered in this Colony either before or after the commencement of this Ordinance and notwithstanding that the whole or part of its business is or may be carried on elsewhere.
(3) The Court shall not, in dealing with or making orders in respect of applications made to it under this Ordinance, take into consideration the fact that it may be difficult or impossible to enforce them.
Prohibition of partner- ships exceed ing certain number. 8 Edw. 7 c. 69 s. 1.
Mode of
forming in- corporated company. ib. s. 2.
PART I.
CONSTITUTION AND INCORPORATION.
Prohibition of Large Partnerships.
2. No company, association, or partnership consisting of more than 20 persons shall be formed for the purpose of carrying on the business of banking or any other business that has for its object the acquisition of gain by the company, association, or partnership, or by the individual members thereof, unless it is registered as a com- pany under this Ordinance, or is formed under or in pursuance of some other Ordinance, or Act, or of a charter of incorporation, or of letters patent.
Memorandum of Association.
3. Any 7 or more persons (or, where the company to be formed will be a private company within the meaning of this Ordinance, any 2 or more persons) associated for any lawful purpose may, by subscribing their names to a memorandum of association and other- wise complying with the requirements of this Ordinance in respect of registration, form an incorporated company, with or without limited liability (that is to say), either—
(i) a company having the liability of its members limited by the memorandum to the amount, if any, unpaid on the shares repec- tively held by them (in this Ordinance termed a company limited by shares); or
(ii) a company having the liability of its members limited by the memorandum to such amount as the members may respectively thereby undertake to contribute to the assets of the company in the event of its being wound up (in this Ordinance termed a company limited by guarantee); or
(iii) a company not having any limit on the liability of its mem- bers (in this Ordinance termed an unlimited company).
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