578 SECRETARIAL PRACTICE
within a period of six weeks from the date of the revocation or such
longer period as the Board of Trade may think fit to allow, change
its name to a name which does not contain those words.

If a company makes default in complying with the requirements
of this subsection, it shall be liable to a fine not exceeding fifty
pounds for every day during which the default continues.

(4) Where a company changes its name, the registrar shall
enter the new name on the register in place of the former name,
and shall issue a certificate of incorporation altered to meet the
circumstances of the case.

(5) The change of name shall not affect 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 commenced against it by its new name.

Effect of
memorandum
and articles.

Provision as to
memorandum
and articles of
companies
limited by
guarantee.

General Provisions with vespect to Memorandum and Articles.

20.—(1) Subject to the provisions of this Act, 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 and sealed 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 company under

the memorandum or articles shall be a debt due from him to the
company, and in England be of the nature of a specialty debt.
21.—(1) In the case of a company limited by guarantee and not
having a share capital, and registered on or after the first day of
January, nineteen hundred and one, every provision in the memoran-
dum 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 Act 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 provision for a share
capital, notwithstanding that the nominal amount or number of
the shares or interests is not specified thereby.
Alterations in 22, Notwithstanding anything in the memorandum or articles
bin vg iid of a company, no member of the company shall be bound by an
ing liability to alteration made in the memorandum or articles after the date
es , on which he became a member, if and so far as the alteration requires
to bind existing him to take or subscribe for more shares than the number held
Egrhers with: 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: