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1The number of members with which the company proposes to be registered is 20, but the directors may from time to time register an increase of members.
2The share capital of the company is two thousand pounds divided into twenty shares of one hundred pounds each.
3The company may by special resolution—
(a)increase the share capital by such sum to be divided into shares of such amount as the resolution may prescribe ;
(b)consolidate its shares into shares of a larger amount than its existing shares ;
(c)sub-divide its shares into shares of a smaller amount than its existing shares ;
(d)cancel any shares which at the date of the passing of the resolution have not been taken or agreed to be taken by any person ;
(e)reduce its share capital in any way.
4The regulations of Table A, Part I, set out in the First Schedule to the Companies Act, 1948 (other than regulations 40 to 46 inclusive) shall be deemed to be incorporated with these articles and shall apply to the company.
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