Company Law Reform Bill [HL]

moved Amendment No. 105:"Page 45, line 11, leave out subsection (2)." The noble Lord said: We are moving through Part 7, which deals with re-registration. Here we come to the re-registration of private limited companies as unlimited. Clause 102(2) prohibits a company re-registering as an unlimited company if it has previously been a limited company, having previously been unlimited, or, an unlimited company, having previously been limited. We do not see the purpose behind this prohibition. Why should companies not be able to register as unlimited in such situations? There do not seem to be any good reasons why a company cannot change its status more than once. We are for achieving and maintaining maximum flexibility. This amendment removes the prohibition and enhances flexibility. I beg to move.