(1) An unlimited company may be re-registered as a private limited company if -
(a) a special resolution that it should be so re-registered is passed,
(b) the condition specified below is met, and
(c) an application for re-registration is delivered to the registrar in accordance with section 106, together with -
(i) the other documents required by that section, and
(ii) a statement of compliance.
(2) The condition is that the company has not previously been re-registered as unlimited.
(3) The special resolution must state whether the company is to be limited by shares or by guarantee.
(4) The company must make such changes -
(a) in its name, and
(b) in its articles,
as are necessary in connection with its becoming a company limited by shares or, as the case may be, by guarantee.