C1Part 3A company's constitution

Annotations:
Modifications etc. (not altering text)

Chapter 2Articles of association

Alteration of articles

25Effect of alteration of articles on company's members

1

A member of a company is not bound by an alteration to its articles after the date on which he became a member, if and so far as the alteration—

a

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

b

in any way increases his liability as at that date to contribute to the company's share capital or otherwise to pay money to the company.

2

Subsection (1) does not apply in a case where the member agrees in writing, either before or after the alteration is made, to be bound by the alteration.