Hong Kong Ordinances

COMPANIES ORDINANCE - SECT 25

Alterations in memorandum or articles increasing liability to contribute to share capital not to bind existing members without consent

Notwithstanding anything in the memorandum or articles of a company, no member
of the company shall be bound by an alteration made in the memorandum or
articles after the date on which he became a member, if and so far as the
alteration requires him to take or subscribe for more shares than the number
held by him at the date on which the alteration is made, or in any way
increases his liability as at that date to contribute to the share capital of,
or otherwise to pay money to, the company: Provided that this section shall
not apply in any case where the member agrees in writing, either before or
after the alteration is made, to be bound thereby. [cf. 1929 c. 23 s. 22 U.K.]