(1) In this section -
"existing unlimited company" has the same meaning as it has in section 1246;
"new provisions" means the provisions of this Part (and the relevant provisions of Part 2 as applied by this Part) relating to the use of either of the required sets of words (or their abbreviations) set out in subsection (2);
"transition period" means the period of 18 months beginning after the commencement of this section.
(2) For the purposes of this section, each of the following is a required set of words -
(a) unlimited company,
(b) cuideachta neamhtheoranta.
(3) During -
(a) the transition period, or
(b) if before the expiry of that period the company has changed its name to include either of the required sets of words, the period preceding the making of that change,
an existing unlimited company may omit the words "unlimited company" or "cuideachta neamhtheoranta" from its name.
(4) On and from -
(a) the expiry of the transition period, or
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