(1)A public company may be re-registered as a private company if—
(a)a special resolution complying with subsection (2) below that it should be so re-registered is passed and has not been cancelled by the court under the following section;
(b)an application for the purpose in the prescribed form and signed by a director or the secretary of the company is delivered to the registrar of companies, together with a printed copy of the memorandum and articles of the company as altered by the resolution; and
(c)the period during which an application for the cancellation of the resolution under the following section may be made has expired without any such application having been made; or
(d)where such an application has been made, the application has been withdrawn or an order has been made under section 54(5) confirming the resolution and a copy of that order has been delivered to the registrar.
(2)The special resolution must alter the company’s memorandum so that it no longer states that the company is to be a public company and must make such other alterations in the company’s memorandum and articles as are requisite in the circumstances.
(3)A company cannot under this section be re-registered otherwise than as a company limited by shares or by guarantee.