Section 179Part 8 — Exempted Limited Duration Companies
Registration as an exempted limited duration company
←→ Navigate · Click subsection badges to collapse · Press ? for help
The Registrar shall register as an exempted limit ed duration company an exempted company that has made application under section 178 if —
the comp any has at least two subscribers or two members;
where the company was not already registered as a company prior to the application —
the memorandum of association of the company limits the duration of the company to a period of thirty years or les s; and
the name of the company includes at its end “Limited Duration Company” or “LDC”; and
where the company was already registered as a company prior to the application —
the Registrar has been supplied, where the duration of the company is not already limited to a period of thirty years or less with a certified copy of a special resolution of the company altering its memorandum of association to limit the duration of the company to a period of thirty years or less; and
the Registrar has been supplied, in accordance with section 31 , with a copy of a special resolution of the company changing its name to a name that includes at its end “Limited Duration Company” or “LDC”.
On registering an exempted company as an exempted limited duration company the Registrar shall —
in the case of a company referred to in paragraph
of subsection (1), certify in the certi ficate of incorporation issued in accordance with section 27
or the certificate of registration by way of continuation issued in accordance with section 201(1) that the company is registered as an exempted limited duration company; and ( b ) in the case o f a company referred to in paragraph (c) of subsection (1), certify in the certificate of incorporation issued in accordance with section 31(2) that the company is registered as an exempted limited duration company stating the date of such registration. ( 3 ) A special resolution passed for the purpose of paragraph (c)(ii) of subsection (1) has no effect until the company is registered as an exempted limited duration company.