14. Alteration of articles.
(1) Subject to the provisions of this Act and the conditions contained in its
memorandum, if any, a company may, by a special resolution, alter its articles including
alterations having the effect of conversion of—
(a) a private company into a public company; or
(b) a public company into a private company:
Provided that where a company being a private company alters its articles in such a
manner that they no longer include the restrictions and limitations which are required to be
included in the articles of a private company under this Act, the company shall, as from the
date of such alteration, cease to be a private company:
Provided further that any alteration having the effect of conversion of a public company
into a private company shall not take effect except with the approval of the Tribunal which
shall make such order as it may deem fit.
(2) Every alteration of the articles under this section and a copy of the order of the
Tribunal approving the alteration as per sub-section (1) shall be filed with the Registrar,
together with a printed copy of the altered articles, within a period of fifteen days in such
manner as may be prescribed, who shall register the same.
(3) Any alteration of the articles registered under sub-section (2) shall, subject to the
provisions of this Act, be valid as if it were originally in the articles.