Section 22. The subsc~.ibers of the ~ilcmoraudum of associatiorl of ariy CornDefinitionof ',Mempaily under this

PART 11. DISTICIRUTION OF CAPITAL AND LIABILITY OF MEMBERS OF COMPANIES AND , ' ASSOCIATIONS UNDER THIS `ACT.` Dist?.ibzction `of Capital.` 21. The shares or other interest of any member in a Company under Nature of illterest in this Act shall be moveable property capal~le of being transCompany. ferrcd in manner providecl by the regulation% of the Company, and shall not be of the nature of real estate or immoveable property ; and escli share shall, in the case of a Comlmny having a capital divided into shares, be distinguished by its appropriate n~unber. 22. The subsc~.ibers of the ~ilcmoraudum of associatiorl of ariy CornDefinitionof ',Mempaily under this Act shall br, deemed to ham agrecd to beber." c ~ l ~ l e meinbeys of t,l~e Co~npany ~rliosc muemor:>ndun~ tlley llavc subsoribed, and upon the registration of tlie Coivpar~y shall be enterf:d as mc~~ibers on the Register of Ihllenibcrs hc~ei~iaftcr meiltiol~cd; nl:d cvwy 9 3 1 i 1 I - ! I s, k conform to all the regulations contained in such Articles, subject to the provisions of this Act. All monies payable by any member to the Company, in pursuolnoe of the conditions and reglllntions of the Company, or any of such conditions or regulations, shall he deemed to be a debt due from such member to the Company. Genera 1 Provisions. 17.[The memorandum of association and the Articles of Association, ][if ] Registration of `me-`[any, shall be delivered to the Registrar of Joint Stock Com- ] mora~ldum of 8sso,-iapanies hereinafter mentioned, who shall retain and register tion and Articles of Association with fees the same. There shall be paid to the Registrar by a Com- as ia Table `B.` pany having capital divided into shares, in respect of the several matters mentioned in tge Table marked B in the first Schedule hereto, the several fees therein specified, or such smaller fees as the Governor-General of India in Council may from time to time direct, and by a Company not having a capital divided into shares, in respect of the several matters mentioned in the Table marked C in the fiyst Schedule hereto, the several fees therein specified, or such smaller fees as the Governor-General of India in Council may from time to time direct. All fees paid to the said Registrar in pursuance of this Act shall be accounted for to Governmcnt. `18.`[Upon the registration of the memorandum of association and of the ] ~ f f c c t of registra- Articles of Association in cases where Articles of Association tion. are required by this Act, or by the desire of the parties to be registered, the ~ e ~ i s t r a r shall certify under his hand that the Company is incorporated, and in the case of a Limited Company that the Company is limited; the subscribers of the memorandum of association, together wit11 such other persons as may from time to time become members of the Company, shall thereupon be a Body Corporate by the name contailled in the memorandum of association, capable fortl~mitlr of exercisiiig all the functions of an incorporated Company, and having perpetual succession and a common scal, but with such liability on thepart of the iiiembcrs to contribute to the assets of the Company, in theevent of the same being wound up, as is hereinafter mentioned. A certificate of the incorporation of any Company given by tlre Registrar shall bc conclusive evidence that all the requisitions of this Act in respect of registration ha& been complied with. 19. `[[h ]]`[[copy ][of ]][[of ]][[the mern~~al~dum ]]