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Section 12
A public company that must be a public company to carry out certain transactions
: Regardless of what is written elsewhere in this Act, a company that operates banking transactions, financial transactions, insurance transactions, securities market transactions, pension funds or collective savings funds (mutual funds), five A telecommunication service provider company with a paid-up capital of more than 1 crore or a company conducting other business or transactions as specified must be incorporated as a public company. Currently registered private companies should be converted into public companies within two years as per this clause.