New Clause 168

Company Law Reform Bill [Lords] – in a Public Bill Committee at 1:45 pm on 20th July 2006.

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Re-registration as private company in consequence of cancellation

‘(1) Where a company is obliged to re-register as a private company to comply with section (Duty to cancel shares in public company held by or for the company), the directors may resolve that the company should be so re-registered.

Any such resolution is subject to Chapter 3 of Part 3 (resolutions affecting company’s constitution: copy to be forwarded to the registrar, etc).

(2) The resolution may make such changes—

(a) in the company’s name, and

(b) in the company’s articles,

as are necessary in connection with its becoming a private company.

(3) The application for re-registration must contain a statement of the company’s proposed name on re-registration.

(4) The application must be accompanied by—

(a) a copy of the resolution (unless a copy has already been forwarded under Chapter 3 of Part 3),

(b) a copy of the company’s articles as amended by the resolution, and

(c) a statement of compliance.

(5) The statement of compliance required is a statement that the requirements of this section as to re-registration as a private company have been complied with.

(6) The registrar may accept the statement of compliance as sufficient evidence that the company is entitled to be re-registered as a private company.’.—[Margaret Hodge.]

Brought up, and added to the Bill.