34. Power to dispose with “limited” in the name of charitable and other companies

Where the Registrar is satisfied that an association about to be formed as a company limited by guarantee is to be formed for promoting commerce, art, science, religion, charity, sport, or any other useful object, and 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 —

Where it is proved to the satisfaction of the Registrar—

A licence granted under this section may be subject to such terms and conditions as the Registrar thinks necessary for the purpose of ensuring that the association conforms to the requirements of subsection (1). The terms and conditions shall be binding on the association and shall, if the Registrar so directs, be incorporated into the articles of such company.

No alteration may be made in the articles of a company to which a licence has been granted under this section, without the prior written approval of the Registrar.

The provisions of section 6 shall not apply in respect of a company to which a licence is granted under this section.

A licence granted under this section may at any time be revoked by the Registrar where the company to which the licence is granted fails to comply with the requirements of subsection (1) or subsection (3). Upon revocation of a licnece, the Registrar shall enter upon the register the word “Limited”

Before a licence is revoked under subsection (6), the

Where an association in respect of which a licence under this section is in force alters the provisions of its constitution with respect to its objects, the Registrar may, unless he sees fit to revoke the licence, vary, add to or alter the terms and conditions subject to which the license was granted.