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: