Section 268: Conversion of public companies and private companies

268. Conversion of public companies and private companies (1) A public company that has not for the time being more than 25 members may convert to a private company by filing with the Registrar— (a) a copy of a special resolution passed to that effect; and (b) a declaration by a director or Secretary of the company stating the full names, addresses and descriptions of all the members, and the number of shares held by each of them respectively. (2) A private company may, subject to its constitution, convert to a public company by filing with the Registrar a copy of a special resolution passed to that effect. (3) Where a company has complied with subsection (1) or (2), the Registrar shall issue to the company a new certificate, in such form as the Registrar may determine, confirming the conversion and cancel the previous certificate of incorporation. (4) The conversion of a company under this section shall— (a) take effect on the issue of the certificate; and (b) not affect the identity of the company or any right or obligation of the company or render defective any proceedings by or against the company. [S. 268 amended by s. 10 (i) of Act 9 of 2015 w.e.f. 14 May 2015.] PART XX – COMPANIES LIMITED BY GUARANTEE