Section 18 — Conversion of companies already registered

(1) A company of any class registered under this
Act may convert itself as a company of other class under this Act by alteration of memorandum and articles
of the company in accordance with the provisions of this Chapter.
(2) Where the conversion is required to be done under this section, the Registrar shall on an application
made by the company, after satisfying himself that the provisions of this Chapter applicable for registration
of companies have been complied with, close the former registration of the company and a fter registering
the documents referred to in sub -section (1), issue a certificate of incorporation in the same manner as its
first registration.
(3) The registration of a company under this section shall not affect any debts, liabilities, obligations or