Section 291: Cancellation of registration

291. Cancellation of registration (1) A company shall cease to be a limited life company where— (a) the Registrar removes its name from the register under section 306; or (b) the company passes a resolution to alter its constitution to provide for a period of duration for the company that exceeds or is capable of exceeding 150 years from the date of its incorporation. (2) On a company ceasing to be a limited life company— (a) the Registrar shall, where the company has ceased to be a limited life company by virtue of subsection (1) (b), on payment of the prescribed fee, record the alteration on the certificate of incorporation in order to meet the circumstances of the case; and (b) the certificate issued by virtue of section 287 (4) ceases to have effect. (3) A resolution passed for the purpose of subsection (1) (b) has no effect until a certificate of incorporation is issued by the Registrar under subsection (2) (a).