(1)
An unlimited company may be re-registered as a private limited company if—
(a)
a special resolution that it should be re-registered is passed ;
(b)
the condition specified under subsection (2) is met ; and
(c)
an application for re-registration is delivered to the Commission in accordance with section 72, 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 as unlimited.
(3)
The special resolution shall state whether the company is to be limited by shares or by guarantee.
(4)
The company shall make such changes—
(a)
in its name ; and
(b)
in its memorandum and articles, as are necessary in connection with its becoming a company limited by shares or, as the case may be, by guarantee.