| Commentary

248.1 Adoption and distribution

| Commentary

248 Draft terms of scheme

248.1 Adoption and distribution

To carry out a scheme for the reorganisation of a public company under the special rules, a draft of the proposed terms of the scheme must be drawn up and adopted by the directors of the merging companies or the companies involved in the division, as the case may be1. The directors must then deliver a copy of the draft terms to the Registrar of Companies, who must publish in the London Gazette notice that he has received a copy of the draft terms2. In the case of a division, the court

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