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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 22

Alterations in memorandum or articles increasing liability to contribute to share capital not to bind existing members without consent.

22.(1) Subject to sub-section (2), notwithstanding anything in the memorandum
or articles of a company, no member of the company shall be bound by an
alteration made in the memorandum or articles after the date on which he
became a member, if and so far as the alteration requires him to take or
subscribe for more shares than the number held 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.

(2) Sub-section (1) shall not apply where the member agrees in writing, either
before or after the alteration is made, to be bound thereby.

© 1960 Crown Copyright

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