A: You will have an 18 month conversion period to convert to a LTD company. Under the new companies act all existing limited companies, who after this period have do nothing will automatically be converted to the new form LTD company. If at this time you realise you should have converted to a DAC, it is possible to file the relevant forms and convert to a DAC.
It is also worth noting that other members who hold not less than 15% of the shares and debenture creditors, may be able to apply to the hight court to convert the company to a DAC. With this in mind, if you have shareholders/debenture holders in your company you should discuss with them before deciding on the company type you wish to be.
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