(1) The Secretary of State may by regulations prescribe model articles of association for companies.
(2) Different model articles may be prescribed for different descriptions of company.
(3) A company may adopt all or any of the provisions of model articles.
(4) Any amendment of model articles by regulations under this section does not affect a company registered before the amendment takes effect.
“Amendment” here includes addition, alteration or repeal.
(5) Regulations under this section are subject to negative resolution procedure.
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