(1) A public company limited by shares may be re-registered as an unlimited private company with a share capital if—
(a) all the members of the company have assented to its being so re-registered,
(b) the condition specified below is met, and
(c) an application for re-registration is delivered to the registrar in accordance with section 110, together with—
(i) the other documents required by that section, and
(ii) a statement of compliance.
(2) The condition is that the company has not previously been re-registered—
(a) as limited, or
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