Section 4 Memorandum of company limited by guarantee.

In the case of a company limited by guarantee—

(1)

The memorandum must state—

(i)

The name of the company, with “Limited ” as the last word in its name ;

(ii)

The part of the United Kingdom, whether England, Scotland, or Ireland, in which the registered office of the company is to be situate ;

(iii)

The objects of the company ;

(iv)

That the liability of the members is limited;

(v)

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 one year afterwards, for payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the costs, charges, and expenses of winding up, and for adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified amount.

(2)

If the company has a share capital—

(i)

The memorandum must also state the amount of share capital with which the company proposes to be registered and the division thereof into shares of a fixed amount;

(ii)

No subscriber of the memorandum may take less than one share ;

(iii)

Each subscriber must write opposite to his name the number of shares he takes.