(1) Subject to subsection (3), the constitution of an investment company shall be in the form of a memorandum of association and articles of association which together are referred to in this Part as a "constitution".
(2) The memorandum of association of an investment company shall state -
(a) its name;
(b) that it is a public limited company registered under this Part;
(c) its object as specified in section 1386(1)(a);
(d) that the liability of its members is limited; and
(e) in respect of its share capital -
(i) that the share capital of the company shall be equal to the value for the time being of the issued share capital of the company;
(ii) the division of that share capital into a specified number of shares without assigning any nominal value thereto; and
(iii) that the issued share capital of the company for the time being shall not be less than a minimum amount nor more than a maximum amount specified in the memorandum.
(3) The constitution of an investment company shall -
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