(1) Upon receipt of an application under this Division, and, if the applicant complies with all reasonable requirements of the Registrar to have the body corporate accord with the requirements of this Act, the Registrar shall, in accordance with section 511, issue a certificate of reincorporation to the body corporate.
(2) On the date shown in the certificate of reincorporation—
(a) the body corporate becomes a company to which this Act applies as if it had been incorporated under this Act;
(b) the articles of reincorporation are the articles of incorporation of the body corporate; and
(c) except for the purposes of section 65(1), the certificate of reincorporation is the certificate of incorporation of the body corporate.
(Inserted by Act 10 of 2001)