The structure of an isolated rapidly rotating magnetosphere containing low-energy plasma is treated analytically. The plasma is confined to a thin sheet lying in the equatorial plane. Its effects as far as the magnetosphere as a whole is concerned are equivalent to those of an azimuthal current sheet. When the current distribution is assumed to have a certain form, it is possible to describe the complete solution in terms of simple functions. It is shown that neutral points eventually appear in the magnetic field configuration, indicating that the magnetosphere is unable to contain additional plasma with the assumed distribution.