Memorandum and articles of association / British Empire Cancer Campaign.

  • British Empire Cancer Campaign
Date:
1950
Catalogue details

Licence: Public Domain Mark

Credit: Memorandum and articles of association / British Empire Cancer Campaign. Source: Wellcome Collection.

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    bound to account for any share of profits he may receive in respect of any such payment. 6.—No addition, alteration, or amendment shall be made to or in the regulations contained in the Articles of Association of the Institute for the time being in force, unless the same shall have been previously submitted to and approved by the Board of Trade. 7.—The Clauses numbered 5 and 6 in this Memorandum contain conditions on which a Licence is granted by the Board of Trade to the Institute in pursuance of Section 20 of the Companies (Consolidation) Act, 1908. 8.—The liability of the Members is limited. 9.—Every Member of the Institute undertakes to contribute to the assets of the Institute (in the event of the same being wound up during the time that he is a Member or within one year afterwards) for payment of the debts and liabilities of the Institute contracted before the time at which he ceases to be a Member, and of the costs, charges and expenses of winding up the Institute and for the adjustment of the rights of the contributories amongst themselves such amount as may be required not exceeding 1. 10.—If upon the winding up or dissolution of the Institute there remains, after satisfaction of all its debts and liabilities, any property whatsoever, the same shall not be paid to or distributed among the Members of the Institute, but shall be given or transferred to some Institution or Institutions having objects similar to the objects of the Institute and which shall prohibit the distribution of its or their income and property amongst its or their members to an extent at least as great as is imposed upon the Institute under or by virtue of Clause 5 hereof, such Institution or Institutions to be determined upon by the Members of the Institute at or before the time of dissolu- tion. And if and so far as effect cannot be given to the aforesaid provision then to some charitable object. 11.—True and proper accounts shall be kept of all sums of money received and expended by the Institute, and the matters in respect of which such receipts and expenditure take place, and of the property, credits and liabilities of the Institute, and subject to any reasonable restrictions as to the time and manner of inspecting the same that may be imposed in accordance with the regulations of the Institute for the time being, shall be open to the inspection of the Members. Once at least in every year the accounts of the Institute shall be examined and the correctness of the balance sheet ascertained by one or more properly qualified Auditor or Auditors. The Institute shall publish a yearly account and balance sheet.
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