# Council Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute for a European company (SE), Article 66

Extent: E+W+S+N.I.

1. A UK Societas may be converted into a public limited-liability company ...
2. The conversion of a UK Societas into a public limited-liability company shall not result in the winding up of the company or in the creation of a new legal person.
3. The management or administrative organ of the UK Societas shall draw up draft terms of conversion and a report explaining and justifying the legal and economic aspects of the conversion and indicating the implications of the adoption of the public limited-liability company for the shareholders and for the employees.
4. The draft terms of conversion shall be publicised in accordance with regulation 86 of the 2004 Regulations at least one month before the general meeting called to decide thereon.
5. Before the general meeting referred to in paragraph 6, one or more independent experts appointed or approved, in accordance with section 909 of the Companies Act 2006 (Expert's report (merger)) shall certify that the company has assets at least equivalent to its capital.
6. The general meeting of the UK Societas shall approve the draft terms of conversion together with the statutes of the public limited-liability company. The decision of the general meeting shall be passed as laid down in section 907 of the Companies Act 2006 (approval of members of merging companies).

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Source: https://www.legislation.gov.uk/eur/2001/2157/article/66 (the official version)
Page: https://openlegislation.uk/eu-regulation-2001-2157/article-66
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.