The Memorandum of Association shall be in the form marked A in the Schedule hereto, or as near thereto, as circumstances admit; and it shall, when registered, bind the Company and the shareholders therein to the same extent as if each shareholders had subscribed his name and affixed his seal thereto or otherwise duly executed the same, and there were in such Articles Memorandum contained, on the part of himself, his heirs, executors, administrators, or representatives, a covenant to conform to all the regulations of such Articles, subject to the provisions of this Act.