Section 302 - Conversion of private company to public company

(1) A private company shall be converted into a public company

(a) if the company alters its capacity to operate as a private company, and

(b) where the company alters its registered constitution in a manner that is appropriate to a public company and not required in order to constitute a private company.

(2) Within twenty-eight days after the date of the special resolution to alter its capacity to operate as a private company or alter the registered constitution, the company shall deliver to the Registrar for registration a copy of the resolution in accordance with section 165.

(3) The Registrar shall publish notice of the conversion of the company in the Companies Bulletin.

(4) Where there is a default in complying with subsection (1) or (2), the company and an officer of the company that is in default is liable to pay to the Registrar, an administrative penalty of five hundred penalty units.