385 Effect of automatic re-registration under this Act

(1) A former Act company that is re-registered under section 383(1),
continues in existence as a legal entity and its re-registration under this

Act, whether under the same or a different name, does not —

(a) prejudice or affect its identity;

(b) affect its assets, rights, liabilities or obligations; or

(c) affect the commencement or continuation of proceedings by or
against the company.

(2) Subject to subsection (1), a former Act company that is re-registered
under section 383(1) shall, from its re-registration on the Act
commencement date, be treated as a company incorporated under this
Act.