Como clonar formulários em tempo de execução

procedure TForm1.Button1Click(Sender: TObject);
var
ms: TMemoryStream;
newform: TForm1;
begin
ms := TMemoryStream.Create;
try
ms.WriteComponent(Form1);
newform := TForm1.CreateNew(Application);
ms.Position := 0;
ms.ReadComponent(newform);
newform.Show;
finally
ms.Free
end;
end;