Public company becoming private 

21.   (a) A public company may be re-registered as a private company if a special resolution that it should be so re-registered is passed, and an application for re-registration is delivered to the registrar of companies and the company is re-registered as a private company in accordance with this Act. 

       (b) The application of re-registration of a public company to a private company delivered of registrar of companies shall contain the following: 

            (1) the special resolution passed by the public company to become private. 
            (2) the special resolution passed by the company to make such alterations to the memorandum and the articles as are necessary to bring them in conformity with requirements of this Act. 
            (3) the memorandum and articles of association of the company after bringing them into conformity with the memorandum and articles of association of a private company as prescribed in this Act. 

       (c) If an application to re-register a private company as a public  company is delivered to registrar of companies in accordance with sub-sections (a) and (b) of this section, the company shall be re-registered and the certificate shall be issued if the requirements specified in this Act for the formation and registration of a private company are fulfilled. 

Back to "Company Act" Contents