(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 under subsection (2) are met, and
(c)
an application for re-registration is delivered to the Commission in accordance with section 60, 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 57 are met as regards its share capital ;
(c)
that the requirements of section 58 are met as regards its net assets ;
(d)
if section 59 applies, that the requirements of that section are met ; and
(e)
that the company has not previously been re-registered as an unlimited company.
(3)
The company shall make such changes to its name and articles, as are necessary in connection with its becoming a public company.
(4)
If the company is unlimited it shall also make such changes in its articles as are necessary in connection with its becoming a company limited by shares.