30. Effect of company's constitution

Past version: effective from 14/06/2015 - 13/06/2015
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(1) The provisions of a company's constitution bind the company and its members to the same extent as if there were covenants on the part of the company and of each member to observe those provisions.
(2) Money payable by a member to the company under its constitution is a debt due from him to the company in the nature of an ordinary contract debt.