{
  "url": "https://openlegislation.uk/rtm-companies-model-articles-wales-regulations-2011/schedule-1/paragraph-7",
  "json_url": "https://openlegislation.uk/rtm-companies-model-articles-wales-regulations-2011/schedule-1/paragraph-7.json",
  "legislation": "wsi/2011/2680",
  "legislation_title": "The RTM Companies (Model Articles) (Wales) Regulations 2011",
  "legislation_url": "https://openlegislation.uk/rtm-companies-model-articles-wales-regulations-2011",
  "path": "schedule/1/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": "Liability of members",
  "text": "The liability of members is limited to £1 each, being the amount that they undertake to contribute to the assets of the company in the event of its being wound up while they are a member or within one year after they cease to be a member, for—\n(a) payment of the company’s debts and liabilities contracted before they cease to be a member;\n(b) payment of the costs, charges and expenses of winding up; and\n(c) adjustment of the rights of the contributories among themselves.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 1 art. 7 in force at 30.11.2011, see reg. 1(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/wsi/2011/2680/schedule/1/paragraph/7",
    "retrieved_at": "2026-10-28T23:48:59.854695+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}