This section has no associated Explanatory Notes
3 In Article 13 (minimum number of members) after paragraph (1) insert—N.I.
“(1A) Where shares are allotted to an individual who is a corporate member (see Articles 14(1)(b) and 14A), then for the purposes of paragraph (1) the partnership or (as the case may be) the unincorporated association is to be treated as the member in respect of those shares.
(1B) This does not affect the treatment of the individual as a member in respect of any shares that the individual holds on his or her own behalf.”.