Compante. [Ch. 31. No.1.

former name, and shall issue a certificate of incorporation
altered to meet the circumstances of the case.

(5) The change of name shall not affeet any rights or
obligations of the company, or render defective any legal
proceedings by or against the company, and any legal
proceedings that might have been continued or commenced
against it by its former name may be continued or com-
menced against it by its new name.

General provistons with respect to memorandum and article.

22. (1) Subject to the provisions of this Ordinance, the
memorandum and articles shall, when registered, bind the
company and the members thereof to the same extent as if
they respectively had been signed by each member, and
contained covenants on the part of each member to observe
all the provisions of the memorandum and of the articles.

(2) All money payable by any member to the com-
pany under the memorandum or articles shall be a debt due
trom him to the company, and in the Colony be of the nature
of a specialty debt.

23. (1) In the case of a company limited by guarantee
and not having a share capital, and registered on or after the
Ist of January, 1914, every provision in the memorandum
or articles or in any resolution of the company purporting
to give any person a right to participate in the divisible
profits of the company otherwise than as a member shall
be void.

(2) For the purpose of the provisions of this Ordinance
relating to the memorandum of a company limited by
guarantee and of this section, every provision in the
memorandum or articles, or in any resolution, of a company
limited by guarantee and registered on or after the date
aforesaid, purporting to divide the undertaking of the
company into shares or interests shall be treated as a pro-
vision for a share capital, notwithstanding that the nominal
amount or number of the shares or interests is not specified
thereby.

24. Notwithstanding anything in the memorandum or
articles of a company, no member of the company shall be

Leteet of
memoran-
dum and
articles,

Provision

as to memo-
randum and
articles of
companies
limited by
guarantee.

Alterations
in memo-
randum or