Western Australian Consolidated Acts

COMPANIES (CO-OPERATIVE) ACT 1943 - SECT 32

32 .         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, subject as hereinafter in this section provided, be bound by any 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 to be bound by the particular alteration either before or after it is made.