the person becomes a member of the company issuing the shares if:
- the issue of the shares is in accordance with the special resolution that
accompanied the application to change type under subparagraph 163(2)(a)(ii);
- the shares are fully paid up; and
- the business, assets and liabilities of the issuing company (together with
its subsidiaries) when the shares are issued are substantially the same as the
business, assets and liabilities of the company changing type (together with
its subsidiaries) immediately before the change of type took effect.
(2) If shares are issued according to this section, a court is not to make an
order reversing the issue of the shares.