Commentary

252 Approval of the scheme by classes of members

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

252 Approval of the scheme by classes of members

| Commentary

252 Approval of the scheme by classes of members

When the directors of each merging company (or of each of the companies involved in the division) have prepared their explanatory reports on the draft terms of the scheme, and the requisite report by an expert has also been prepared, meetings of each class of members of every participating company must be called to approve the scheme. The scheme must be approved by a majority in number, representing 75% in value, of each class of members of each of the merging companies or of each of the companies involved in the

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