Section 43: Effect of constitution
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
43. Effect of constitution
(1) The constitution of a company shall be void to the extent that it contravenes, or is inconsistent with, this Act.
(2) Subject to this Act, the constitution of a company shall have the effect of a contract—
(a) as between the company and each member or shareholder; and
(b) as between the members or shareholders themselves.
(3) All money payable by any member to the company under the constitution shall be a debt due by him to the company.
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Questions this section answers
- Does my company's constitution act like a contract between the company and its shareholders?
- Is a constitution clause that contradicts the Companies Act still valid?