Part 7Re-registration as a means of altering a company's status
Private company becoming public
C1C290Re-registration of private company as public
1
A private company (whether limited or unlimited) may be re-registered as a public company limited by shares if—
a
a special resolution that it should be so re-registered is passed,
b
the conditions specified below are met, and
c
an application for re-registration is delivered to the registrar in accordance with section 94, together with—
i
the other documents required by that section, and
ii
a statement of compliance.
2
The conditions are—
a
that the company has a share capital;
b
that the requirements of section 91 are met as regards its share capital;
c
that the requirements of section 92 are met as regards its net assets;
d
if section 93 applies (recent allotment of shares for non-cash consideration), that the requirements of that section are met; and
e
that the company has not previously been re-registered 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 a public company.
4
If the company is unlimited it must also make such changes in its articles as are necessary in connection with its becoming a company limited by shares.