26. Power to dispense with “Limited” name of charitable and other companies.
(1)where it is proved to the satisfaction of the Local Government that an association capable - of being formed as a limited company has been or is about to be formed for promoting commerce, art, science, charity, or any other useful object, and applies or intends to apply its profits (if any) or other income in promoting its objects, and to prohibit the payment of any dividend to its members, the Local Government may, by license under the hand of one of its Secretaries, direct that the association be registered as a company with limited liability, without the addition of the word “Limited” to its name, and the association may be registered accordingly.(2)A license by the Local Government under this section may be granted on such conditions and subject to such regulation as the Local Government thinks, fit, and those conditions and regulation shall be binding on the association, and shall, if the Local Government so directs, be inserted in the memorandum and articles, or in one of those documents.(3)The association shall on registration enjoy all the privileges of limited companies, and be subject lo all their obligations, except those of using the word "Limited" as any part of its name and of publishing its name, and of filing lists of members and directors and managers with the registrar.(4)A license under this section may at any time be revoked by the Local Government, and upon re-vocation the registrar shall enter the word "Limited" v the end of the name of the association upon the and the association shall cease to enjoy the, exemptions and privileges granted by this section:Provided that, before a license is so revoked, the Government shall give to the association notice in writing of its intention, and shall afford the association an opportunity of submitting a representation in opposition to the revocation.Companies limited by Guarantee.
