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9.—(1) A joint stock company may be registered as a public company limited by shares if—
(a)the following conditions are met, and
(b)the application for registration is accompanied by the documents specified in paragraph (4) below.
(2) The conditions are—
(a)that the requirements of section 91 of the Companies Act 2006 are met as regards its share capital;
(b)the requirements of section 92 of that Act are met as regards its net assets; and
(c)if section 93 of that Act applies (recent allotment of shares for non-cash consideration), that the requirements of that section are met.
(3) Sections 91 to 93 apply for this purpose as in the case of a private company applying to be re-registered under section 90 of the Companies Act 2006 (re-registration of private company as public), but as if any reference to the special resolution required by section 90 were to the joint stock company’s resolution that it be a public company.
(4) The following documents must be delivered to the registrar together with the application for registration (as well as those required by regulation 4)—
(a)a copy of the resolution that the company be a public company;
(b)a copy of the balance sheet and other documents referred to in section 92(1); and
(c)if section 93 applies (recent allotment of shares for non-cash consideration), a copy of the valuation report (if any) under subsection (2)(a) of that section.
(5) The statement of compliance required to be delivered with the application is a statement that the requirements of this Part as to registration as a public company have been complied with.
(6) The registrar may accept the statement of compliance as sufficient evidence that the company is entitled to be registered as a public company.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
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