(
)
1984 Ed.]
Companies
[CAP. 32
265
Ordinance other than this Ordinance, or of letters patent, or being otherwise duly constituted according to law, and consisting of 2 or more members, may at any time register under this Ordinance as an unlimited company, or as a company limited by shares, or as a company limited by guarantee; and the registration shall not be invalid by reason that it has taken place with a view to the company being wound up: (Amended, 6 of 1984, s. 220)
Provided that—
(a) a company registered under the Companies Ordinance 1865, or the Companies Ordinance 1911, shall not register in pursuance of this section;
(b) a company having the liability of its members limited by Ordinance, Act of Parliament or letters patent, and not being a joint stock company as hereinafter defined, shall not register in pursuance of this section;
(c) a company having the liability of its members limited by Ordinance, Act of Parliament or letters patent shall not register in pursuance of this section as an unlimited company or as a company limited by guarantee;
(d) a company that is not a joint stock company as hereinafter defined shall not register in pursuance of this section as a company limited by shares;
(e) a company shall not register in pursuance of this section without the assent of a majority of such of its members as are present in person or by proxy (in cases where proxies are allowed by the regulations of the company) at a general meeting summoned for the purpose;
(f) where a company not having the liability of its members limited by Ordinance, Act of Parliament or letters patent is about to register as a limited company, the majority required to assent as aforesaid shall consist of not less than three-fourths of the members present in person or by proxy at the meeting;
(g) where a company is about to register as a company limited by guarantee, the assent to its being so registered shall be accompanied by a resolution declaring that each member undertakes to contribute to the assets of the company, in the event of its being wound up while he is a member, or within 1 year after he ceases to be a member, for payment of the debts and liabilities of the company contracted before he ceased to be a member, and of the costs and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified amount.
(1 of 1865.)
(58 of 1911.)
Page 155
Page 156
(
)
1984 Ed.]
Companies
[CAP. 32
265
Ordinance other than this Ordinance, or of letters patent, or being otherwise duly constituted according to law, and consisting of 2 or more members, may at any time register under this Ordinance as an unlimited company, or as a company limited by shares, or as a company limited by guarantee; and the registration shall not be invalid by reason that it has taken place with a view to the company being wound up: (Amended, 6 of 1984, s. 220)
Provided that—
(a) a company registered under the Companies Ordinance 1865, or the Companies Ordinance 1911, shall not register in pursuance of this section;
(b) a company having the liability of its members limited by Ordinance, Act of Parliament or letters patent, and not being a joint stock company as hereinafter defined, shall not register in pursuance of this section;
(c) a company having the liability of its members limited by Ordinance, Act of Parliament or letters patent shall not register in pursuance of this section as an unlimited com- pany or as a company limited by guarantee;
(d) a company that is not a joint stock company as hereinafter defined shall not register in pursuance of this section as a company limited by shares;
(e) a company shall not register in pursuance of this section without the assent of a majority of such of its members as are present in person or by proxy (in cases where proxies are allowed by the regulations of the company) at a general meeting summoned for the purpose;
(f) where a company not having the liability of its members. limited by Ordinance, Act of Parliament or letters patent is about to register as a limited company, the majority required to assent as aforesaid shall consist of not less than three-fourths of the members present in person or by proxy at the meeting;
(g) where a company is about to register as a company limited by guarantee, the assent to its being so registered shall be accompanied by a resolution declaring that each member undertakes to contribute to the assets of the company, in the event of its being wound up while he is a member, or within 1 year after he ceases to be a member, for payment of the debts and liabilities of the company contracted before he ceased to be a member, and of the costs and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified
amount.
(1 of 1865.)
(58 of 1911.)
Page 155Page 156
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