s 35
(1) Until 22nd June 1982 (that is to say, until the expiry of the period which is the transitional period for the purposes of Part I of the 1980 Act) section 25 of this Act shall apply in relation to old public companies within the meaning of section 8(1) of the 1980 Act as it applies in relation to private companies limited by guarantee. (2) A company which by virtue of the repeal of section 19 of the 1948 Act (licences to omit “limited” in certain cases) ceases to be exempt from the requirements mentioned in section 25(3) of this Act shall by resolution of the directors passed within twelve months of that repeal change its name so as to include “ limited ” or, in an appropriate case, its Welsh equivalent, as the last word ; and section 143 of the 1948 Act (certain resolutions to be registered) shall apply to any such resolution. (3) A company which contravenes subsection (2) above and any officer who is in default shall be liable on summary conviction to a fine not exceeding the statutory maximum or on conviction after continued contravention to a default fine not exceeding one-tenth of the statutory maximum. (4) The repeal of section 18(2) of the 1948 Act provided for by Schedule 4 to this Act shall not have effect in relation to company names registered before the coming into operation of section 24 of this Act. Part III SHARE CAPITAL Relief from section 56 of the 1948 Act (share premium account)