(1) The directors of an existing private company shall do each of the things specified in subsection (2) before the expiry of the transition period, unless the company -
(a) has already adopted a constitution in accordance with section 59(1); or
(b) is required, under section 56(2) or (3), to re-register as a designated activity company; or
(c) is proceeding, in accordance with a resolution passed pursuant to section 56(1), to re-register as such a company or is proceeding, in accordance with section 56(4) and Part 20, to re-register as another type of company; or
(d) is required by an order made under section 57 to re-register as a designated activity company or proceedings under that section are pending in relation to it.
(2) The things referred to in subsection (1) are -
(a) prepare a constitution for the company in the form provided under section 19;
(b) deliver a copy of such constitution to each member; and
(c) deliver, in the prescribed form, the constitution to the Registrar fo
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