193 Effect of conversion of ordinary company into international business company

Where an ordinary company is converted into an international business
company by virtue of section 192 —


(a) all property and rights to which the ordinary company was entitled
immediately before that conversion remain the property and rights of the
international business company;

(b) the international business company remains subject to all criminal and
civil liabilities, and all contracts, debts, and other obligations, to which
the ordinary company was subject immediately before its conversion;

(c) all actions and other legal proceedings which, immediately before the
conversion, could have been instituted or continued by or against the
ordinary company may be instituted or continued by or against the
international business company after the conversion; an

(d) a conviction, ruling, order or judgment in favour of or against the
ordinary company may be enforced by or against the international
business company after the conversion.