(1) The entry in the register of the new legal form will have the following effects:
1. the legal entity changing its legal form continues in existence in the legal form determined in the resolution on change of legal form.
2. the holders of shares in the legal entity changing its legal form hold an ownership interest in the legal entity in accordance with the provisions applicable to the new legal form, unless their ownership interest ceases to exist in accordance with the stipulations of the present Book. Any rights of third parties to the shares in the legal entity changing its legal form, or to the memberships in same, continue in existence, then having as their object the shares or memberships in the legal entity in its new legal form.
3. it remedies the facts that the resolution on change of legal form has not been recorded by a notary and, as the case may be, that the declarations of consent or declarations of waiver that may be required under certain circumstances have not been made by individual holders of shares.
(2) The effects determined in subsection (1) will come about in the cases governed by section 198 (2) upon entry in the register of the legal entity in its new legal form.
(3) Defects of the change of legal form will not prejudice the effects of the entry in the register of the new legal form, or of the legal entity in its new legal form.