Part II Re-registration as a means of altering a company’s status
Private company becoming public
48 Modification for unlimited company re-registering.
(1)
In their application to unlimited companies, sections 43 to 47 are modified as follows.
(2)
The special resolution required by section 43(1) must, in addition to the matters mentioned in subsection (2) of that section—
(a)
state that the liability of the members is to be limited by shares, and what the company’s share capital is to be; and
(b)
make such alterations in the company’s memorandum as are necessary to bring it in substance and in form into conformity with the requirements of this Act with respect to the memorandum of a company limited by shares.
(3)
The certificate of incorporation issued under section 47(1) shall, in addition to containing the statement required by paragraph (b) of that subsection, state that the company has been incorporated as a company limited by shares; and—
(a)
the company by virtue of the issue of the certificate becomes a public company so limited; and
(b)
the certificate is conclusive evidence of the fact that it is such a company.