Section 72

(1) An application for re-registration as a limited company shall contain a statement of the company's proposed name on re-registration.

(2) The application shall be accompanied by-

(a) a copy of the resolution that the company should re-register as a private limited company;

(b) if the company is to be limited by guarantee, a statement of guarantee; and

(c) a copy of the company's memorandum and articles as proposed to be amended.

(3) The statement of guarantee required to be delivered in the case of a company that is to be limited by guarantee shall state that each member undertakes that, if the company is wound up while he is a member, or within one year after he ceases to be a member, he will contribute to the assets of the company to such amount as may be required for-

(a) payment of the debts and liabilities of the company contracted before he ceases to be a member;

(b) payment of the costs, charges and expenses of winding up; and

(c) adjustment of the rights of the contributories among themselves, not exceeding a specified amount.

(4) The statement of compliance required to be delivered together with the application is a statement that the requirements of this Part as to re-registration as a limited company have been complied with.

(5) The Commission may accept the statement of compliance as sufficient evidence that the company is entitled to be re-registered as a limited company.