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Companies Act, 1973 (Act No. 61 of 1973)

Chapter III: Types and forms of Companies

Conversion of One Type or Form of Company into Another Type or Form of Company

23. Conversion of a company into an incorporated association not for gain, or into a company limited by guarantee

 

 

With the sanction of a special resolution and upon compliance with the requirements of section 26 and the other requirements of this Act in respect of associations not for gain and companies limited by guarantee, any company may convert itself into an association not for gain under section 21 of this Act or into a company limited by guarantee: Provided that a company having a share capital may only so convert itself if its share capital is cancelled.

 


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