In force2021 Revised EditionCurrent version · 2021 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Companies Act · 2021 Revised Edition · Part · Incorporation of Companies and Matters Incidental Thereto
Companies Act · 2021 Revised Edition · Part · Incorporation of Companies and Matters Incidental Thereto
Official textFrom Attorney General's Chambers, unchanged
Notwithstanding anything in the memorandum or articles of a company, no member of the company shall be bound by an alteration made in the memorandum or articles after the date on which he became a member, if and so far as the alteration requires him to take or subscribe for more shares than the number held by him at the date on which the alteration is made, or in any way increases his liability as at that date to contribute to the share capital of, or otherwise to pay money to, the company:
memorandum
"memorandum" means the memorandum of association of a company, as originally framed or as altered in pursuance of any written law;
Provided that this section does not apply in any case where the member agrees in writing, either before or after the alteration is made, to be bound thereby.
articles
"articles" means the articles of association of a company, as originally framed or as altered by special resolution, including, so far as they apply to the company, the regulations contained in Table A in Schedule 1;
memorandum
"memorandum" means the memorandum of association of a company, as originally framed or as altered in pursuance of any written law;
share
"share" means share in the share capital of a company, and includes stock except where a distinction between stock and shares is expressed or implied;
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