Companies. {Ch. 31. No. 1.

Prowsions with respect to names of compantes.

19. (1) No company shall be registered by a name which
in the opinion of the Registrar is undesirable.

(2) If, through inadvertence or otherwise, a company
on its first registration or on its registration by a new name
is registered by a name which in the opinion of the Registrar
too closely resembles the name by which a company in
existence is previously registered, the first mentioned
company may, with the sanction of the Registrar, change
its name, and shall, if the Registrar so directs within six
months of its being registered by that name, change its
name within six weeks of the date of such direction or
within such longer period as the Registrar may think fit to
allow,

(3) If a company makes default in complying with a
direction under the last preceding subsection it shall be
liable to a fine of twenty-five dollars for every day during
which the default continues.

20. (1) Where it is proved to the satisfaction of the
Governor that an association about to be formed as a limited
company is to be formed for promoting commerce, art,
science, religion, charity, or any other useful object, and
intends to apply its profits, if any, or other income in
promoting its objects, and to prohibit the payment of any
dividend to its members, the Governor may by licence
direct that the association may be registered as a company
with limited lability, without the addition of the word
“ Limited ”’ to its name, and the association may be regis-
tered accordingly.

(2) A licence by the Governor under this section may
be granted on such conditions and subject to such regula-
tions as the Govemor thinks fit, and those conditions and
regulations shall be binding on the association, and shall, if
the Governor so directs, be inserted in the memorandum and
articles, or in one of those documents.

(3). The association shall on registration enjoy all the
privileges of limited companies, and be subject to all their
obligations, except those of using the word ‘‘ Limited” as
any part of its name, and of publishing its name, and of
sending lists of members to the Registrar.

347

Prohibition
of registra-
tion of
companies
by undesir-
able names.
Ord. 5. 1950.

Power to
dispense
with

* Limited”
in name of
charitable
and other
companies,