The following sections set forth the general provisions of the Act with respect to the memorandum and articles :— Eflect of Memorandum and Articles.
"14. (1) The memorandum and articles shall, when registered, bind the company and the members thereof to the same extent as if they re spectively had been signed and sealed by each member, and con tained covenants on the part of each member, his heirs, executors, and administrators, to observe all the provisions of the memorandum and of the articles, subject to the provisions of this Act.
" (2) All money payable by any member to the company under the memo randum or articles shall be a debt due from him to the company, and in England and Ireland be of the nature of a specialty debt.
Registration of Memorandum and Articles.
"15. The memorandum and the articles (if any) shall be delivered to the registrar of companies for that part of the United King dom in which the registered office of the com pany is stated by the memorandum to be situate, and he shall retain and register them.
Elect of Registration.
" 16. ) Un the registration of the memorandum of a company, the registrar shall certify under his hand that the company is incor porated, and in the case of a limited company that the company is limited.
•' (2) From the date of incorporation men tioned in the certificate of incor poration, the subscribers of the memorandum together with such other persons as may from time to time become members of the corn-. pany, shall be a body corporate by the name contained in the memoran dum, capable forthwith of exercising all the functions of an incorporated company, and having perpetual succession and a common seal, with power to hold lands, but with such liability on the part of the members to contribute to the assets of the company in the event of its being wound up as is mentioned in this Act.
Conclusiveness of Certificate of Incorporation " 17. (1) A certificate of incorporation given by the registrar in respect of any association shall be conclusive evidence that all the requirements of this Act in respect of registration and of matters precedent and inci dental thereto have been complied with, and that the association is a company authorised to be registered and duly registered under this Act.
2) A statutory declaration by a solicitor of the High Court, and in Scotland by an enrolled law agent, engaged in the formation of the company, or by a person named in the articles as a director or secretary of the com pany, of compliance with all or any of the said requirements shall be produced to the registrar, and the registrar may accept such a declara tion as sufficient evidence of compliance.
Copies of Memorandum and Articles to be given to Members.
18. (1) Every company shall send to every member, at his request, and on payment of one shilling or such less sum as the company may prescribe, a copy of the memoran dum and of the articles (if any).
" 2? a company makes default in com plying with the requirements of this Section, it shall be liable for each offence to a fine not exceeding one pound." (See COMPANIES, MEMOR ANDUM OF ASSOCIATION, TABLE A.)