Section 2 (28) and 15 of the Ordinance, regarding changes required to be made

in Articles of Association when a company is converting from private to public

company. Those who failed to get high marks generally missed the following
changes:
Increase in minimum number of members and directors from two to three.
Deletion of word private from its name.
Inclusion of provision regarding holding of statutory meeting.

Provisions regarding holding of statutory meeting. The common omissions

were as follows:
Company will only be required to call a statutory meeting if the conversion takes
place within one year of incorporation.
A certificate from the auditors in respect of correctness of allotment and cash
receipts and payments would be required.