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Article (306)

Conversion shall be effected by a resolution passed in accordance with the provisions and procedures governing the amendment of the company's Memorandum and Articles of Association. Such resolution shall not be effective before the lapse of sixty days from the date of its publication in the Official Gazette and in at least one of the local daily newspapers and after the completion of the incorporation procedures of the form into which the company is to convert and after the annotation thereof in the Commercial Registry.