COMPANIES ACT, 1029

579
Provided that this section shall not apply in any case where
the member agrees in writing, either before or after the alteration
is made to be bound therebv.
23.—(1) A company shall, on being so required by any member
send to him a copy of the memorandum and of the articles, if any
and a copy of any Act of Parliament which alters the memorandum,
subject to payment, in the case of a copy of the memorandum and
of the articles, of one shilling or such less sum as the company
may prescribe, and, in the case of a copy of an Act, of such sum
not exceeding the published price thereof as the company may
require.

(2) If a company makes default in complying with this section
the company and every officer of the company who is in default s’
be liable for each offence to a fine not exceeding one pound.

Copies of memo-
randum and
articles to be
given to mem-
bers

24.—(1) Where an alteration is made in the memorandum of Issued copies of
: memorandum to
a company, every copy of the memorandum issued after the date empody
of the alteration shall be in accordance with the alteration. alterations.
(2) If, where any such alteration has been made, the company
at any time after the date of the alteration issues any copies of
the memorandum which are not in accordance with the alteration,
it shall be liable to a fine not exceeding one pound for each copy
so issued, and every officer of the company who is in default shall
be liable to the like penalty.
Membership of Company.

25.—(1) The subscribers of the memorandum of a company
shall be deemed to have agreed to become members of the company,
and on its registration shall be entered as members in its register
of members.

(2) Every other person who agrees to become a member of a
company, and whose name is entered in its register of members
shall be a member of the company

Definition of
member.

Private Companies.
26.—(1) For the purposes of this Act, the expression “private Meaning of
company’ means a company which by its articles— Jrvate |
restricts the right to transfer its shares: and
limits the number of its members to fifty, not including
persons who are in the employment of the company and
persons who, having been formerly in the employment of
the company, were while in that employment, and have
continued after the determination of that emplovment
be, members of the company; and
prohibits any invitation to the public to subscribe *
shares or debentures of the company.
(2) Where two or more persons hold one or more shares mn a
company jointly, they shall. for the purposes of this section. be
treated as a sinele member