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liability of the company contracted before registration, or to pay or contribute to the payment of any sum for the adjustment of the rights of the members among themselves in respect of any such debt or liability, or to pay or contribute to the payment of the costs and expenses of winding up the company, so far as relates to such debts or liabilities as aforesaid;
(g) in the event of the company being wound up, every contributory shall be liable to contribute to the assets of the company, in the course of the winding up, all sums due from him in respect of any such liability as aforesaid, and, in the event of the death, bankruptcy, or insolvency, of any contributory, or marriage of any female contributory, the provisions of this Ordinance with respect to the personal representatives, to the trustees of bankrupt or insolvent contributories, and to the liabilities of husbands and wives respectively, shall apply.
(4) The provisions of this Ordinance with respect to— (a) the registration of an unlimited company as limited; (b) the powers of an unlimited company on registration as a limited company to increase the nominal amount of its share capital and to provide that a portion of its share capital shall not be capable of being called up except in the event of winding up;
(c) the power of a limited company to determine that a portion of its share capital shall not be capable of being called up except in the event of winding up,
shall apply notwithstanding any provisions contained in any Ordinance, Act of Parliament, royal charter, or other instrument constituting or regulating the company.
(5) Nothing in this section shall authorize the company to alter any such provisions contained in any instrument constituting or regulating the company, as would, if the company had originally been formed under this Ordinance, have been required to be contained in the memorandum and are not authorized to be altered by this Ordinance.
(6) Nothing in this Ordinance shall derogate from any power of altering its constitution or regulations which may, by virtue of any Ordinance, Act of Parliament or other instrument constituting or regulating the company, be vested in the company.
(7) In this section, "instrument" includes deed of settlement, contract of copartnery, cost book regulations and letters patent.
323. (1) Subject to the provisions of this section, a company registered in pursuance of this Part may by special resolution alter the form of its constitution by substituting a memorandum and articles for a deed of settlement.
Power to substitute memorandum and articles for deed of
settlement.
1929 c. 23, s. 334.
(
(
1984 Ed.]
Companies
[CAP. 32
269
liability of the company contracted before registration, or to pay or contribute to the payment of any sum for the adjustment of the rights of the members among themselves in respect of any such debt or liability, or to pay or contribute to the payment of the costs and expenses of winding up the company, so far as relates to such debts or liabilities as aforesaid;
(g) in the event of the company being wound up, every contributory shall be liable to contribute to the assets of the company, in the course of the winding up, all sums due from him in respect of any such liability as aforesaid, and, in the event of the death, bankruptcy, or insolvency, of any contributory, or marriage of any female contributory, the provisions of this Ordinance with respect to the personal representatives, to the trustees of bankrupt or insolvent contributories, and to the liabilities of husbands and wives respectively, shall apply.
(4) The provisions of this Ordinance with respect to— (a) the registration of an unlimited company as limited; (b) the powers of an unlimited company on registration as a limited company to increase the nominal amount of its share capital and to provide that a portion of its share capital shall not be capable of being called up except in the event of winding up;
(c) the power of a limited company to determine that a portion of its share capital shall not be capable of being called up except in the event of winding up,
shall apply notwithstanding any provisions contained in any Ordinance, Act of Parliament, royal charter, or other instrument constituting or regulating the company.
(5) Nothing in this section shall authorize the company to alter any such provisions contained in any instrument constituting or regulating the company, as would, if the company had originally been formed under this Ordinance, have been required to be contained in the memorandum and are not authorized to be altered by this Ordinance.
(6) Nothing in this Ordinance shall derogate from any power of altering its constitution or regulations which may, by virtue of any Ordinance, Act of Parliament or other instrument constituting or regulating the company, be vested in the company.
(7) In this section, "instrument" includes deed of settlement, contract of copartnery, cost book regulations and letters patent.
323. (1) Subject to the provisions of this section, a company registered in pursuance of this Part may by special resolution alter the form of its constitution by substituting a memorandum and articles for a deed of settlement.
Power to substitute memorandum and articles for deed of
settlement.
1929 c. 23, s. 334.
(
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