(1) If on an application for re-registration of a public company as an unlimited private company the registrar is satisfied that the company is entitled to be so re-registered, the company shall be re-registered accordingly.
(2) The registrar must issue a certificate of incorporation altered to meet the circumstances of the case.
(3) The certificate must state that it is issued on re-registration and the date on which it is so issued.
(4) On the issue of the certificate—
(a) the company by virtue of the issue of the certificate becomes an unlimited private
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