The fact of becoming a member of a company renders the person liable to contribute to its assets to the extent and in the manner prescribed by the Companies Acts, taken along with the general law and the memorandum and articles of association. Thus, in an unlimited company the members are liable while the company is a going concern to pay to it the nominal amount of the shares (if any) held by them as and when called up, together with any premium payable on issue, and upon a winding up to pay whatever amount is necessary to satisfy the debts of the company and the costs of liquidation;1 but as far as possible all the members contribute rateably. In a company limited by guarantee the members are liable while the company is a going concern to pay to it the amount payable on the shares (if any) held by them as and when called