(1) A private company (whether limited or unlimited) may be re-registered as a public company limited by shares if—
(a) a special resolution that it should be so re-registered is passed,
(b) the conditions specified below are met, and
(c) an application for re-registration is delivered to the registrar in accordance with section 94, together with—
(i) the other documents required by that section, and
(ii) a statement of compliance.
(2) The conditions are—
(a) that the company has a share capital;
(b) that the requirements of section 91 are met as regards its share capital;
(c) that the requirements of section 92 are met as regards its net assets;
(d) if section 93 applies (recent allotment of shares for non-cash consideration), that the requirements of that section are met; and
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