Cancellation of registration

A company shall cease to be limited duration company if- (a) the Registrar issues a certificate of change of name in accordance with section 11(5) which records a change of name of the company and which does not include at its end the expression “Limited Duration Company” or the abbreviation “L.D.C.”; or (b) the company passes a resolution to alter its memorandum of association to provide for a period of duration for the company which exceeds or is capable of exceeding fifty years from the date of its first incorporation as a and the limited duration company pays a de-registration fee of one hundred dollars. (2) Upon a company ceasing to be a limited duration company, the Registrar shall, where such cessation is by virtue of sub-section (1)(a) or (b), cancel its certificate of incorporation and issue to the company a new certificate of incorporation altered to meet the circumstances of the case. (3) The certificate of incorporation cancelled by virtue of sub-section (2) shall cease to have effect from the date of such (4) A resolution passed for the purpose of sub-section (1)(b) shall have no effect until a certificate of incorporation is issued by the Registrar pursuant to sub-section (2). CAP. 273:01.