1950_COMPANIES_ORDINANCE — Page 7

Companies.

(4) In the case of a company having a share capital- (a) the memorandum must also, unless the company is an unlimited company, state the amount of share capital with which the company proposes to be regis- tered and the division thereof into shares of a fixed

amount;

(b) no subscriber of the memorandum may take less

than one share;

(c) each subscriber must write opposite to his name the

number of shares he takes.

6.

[4

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

[5

7. A company may not alter the conditions contained in its memorandum except in the cases, in the mode and to the extent for which express provision is made in this Ordinance.

[6

[CAP. 32

Stamp and memorandum.

signature of

ibid. s. 3.

Restriction on memorandum.

alteration of

ibid. s. 4.

which and

8. (1) Subject to the provisions of this section, a Mode in company may, by special resolution, alter the provisions of its memorandum with respect to the objects of the company, so far as may be required to enable it—

extent to of company

which objects

may be altered.

19 & 20 Geo.

(a) to carry on its business more economically or more 5, c. 23, 8. 5.

efficiently; or

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

means; or

(c) to enlarge or change the local area of its operations;

or

(d) to carry on some business which under existing circumstances may conveniently or advantageously be combined with the business of the company; or (e) to restrict or abandon any of the objects specified in

the memorandum; or

(to sell or dispose of the whole or any part of the

undertaking of the company; or

"

(g) to amalgamate with any other company or body of

persons.

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

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