C1Part 7Re-registration as a means of altering a company's status
Public company becoming private and unlimited
109Re-registration of public company as private and unlimited
1
A public company limited by shares may be re-registered as an unlimited private company with a share capital if—
a
all the members of the company have assented to its being so re-registered,
b
the condition specified below is met, and
c
an application for re-registration is delivered to the registrar in accordance with section 110, together with—
i
the other documents required by that section, and
ii
a statement of compliance.
2
The condition is that the company has not previously been re-registered—
a
as limited, or
b
as unlimited.
3
The company must make such changes—
a
in its name, and
b
in its articles,
as are necessary in connection with its becoming an unlimited private company.
4
For the purposes of this section—
a
a trustee in bankruptcy of a member of the company is entitled, to the exclusion of the member, to assent to the company's re-registration; and
b
the personal representative of a deceased member of the company may assent on behalf of the deceased.
5
In subsection (4)(a), “a trustee in bankruptcy of a member of the company” includes—
F1a
a trustee or interim trustee in the sequestration under the Bankruptcy (Scotland) Act 2016 of the estate of a member of the company;
b
a trustee under a protected trustee deed (within the meaning of the Bankruptcy (Scotland) Act F22016) granted by a member of the company.
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))