Clause 6 of the SCYC Memorandum of Association:Â
Every Member of the Club undertakes to contribute to the assets of the Club, in the event of the same being wound up while he is a Member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the Club contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding £10.00.
If elected to Membership of South Caernarvonshire Yacht Club Ltd (a Company limited by guarantee, not having a share capital), I undertake to contribute a sum not exceeding £10 (Ten Pounds) if required to do so under the terms of Clause 6 of the Memorandum of Association.