Section 56

(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.