C1Part 2Company formation
Requirements for registration
I111Statement of guarantee
1
The statement of guarantee required to be delivered in the case of a company that is to be limited by guarantee must comply with this section.
2
It must contain such information as may be prescribed for the purpose of identifying the subscribers to the memorandum of association.
3
It must state that each member undertakes that, if the company is wound up while he is a member, or within one year after he ceases to be a member, he will contribute to the assets of the company such amount as may be required for—
a
payment of the debts and liabilities of the company contracted before he ceases to be a member,
b
payment of the costs, charges and expenses of winding up, and
c
adjustment of the rights of the contributories among themselves,
not exceeding a specified amount.
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2