(1) On the formation of a limited company -
(a) if articles are not registered, or
(b) if articles are registered, in so far as they do not exclude or modify the relevant model articles,
the relevant model articles (so far as applicable) form part of the company's articles in the same manner and to the same extent as if articles in the form of those articles had been duly registered.
(2) The "relevant model articles" means the model articles prescribed for a company of that description as in force at the date on which the company is registered.