[128B Right to make an election]

[128B  Right to make an election]

[(1)ÌýÌýÌýÌý An election may be made under this section—

(a)ÌýÌýÌýÌý by the subscribers wishing to form a private company under this Act, or

(b)ÌýÌýÌýÌý by the private company itself once it is formed and registered.

(2)ÌýÌýÌýÌý In the latter case, the election is of no effect unless, before it is made—

(a)ÌýÌýÌýÌý all the members of the company have assented to the making of the election, and

(b)ÌýÌýÌýÌý any overseas branch registers that the company was keeping under Chapter 3 have been discontinued and all the entries in those registers transferred to the company's register of members in accordance with section 135.

(3)ÌýÌýÌýÌý An election under

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