Section 7 A member who withdraws all his shareholdings thereby ceases to be a member. ARTICLE III Shares, Deposits and Liabilities Section 1 The par value of each share shall be $5. Subscriptions to shares are payable at the time of subscription, or in equal install¬ ments at the rate of_____per month on each share so subscribed; but on any day when installments are due and payable, any number of installments may be paid in advance. Dated this 17th day of February A.D . 1969 Witness to the attached signatures J.G. Gauden , , Parkdale , Occupation Managing Director I do hereby approve the foregoing Memorandum of Association. Dated at Charlottetown this twenty-fifth day of April A.D . 1969. G. Lome Monkley Registrar 262