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