| Commentary

256 Sanction of the court

| Commentary

256 Sanction of the court

When all the requisite meetings of interested classes of members of the transferor and transferee companies have resolved by the appropriate majority vote to approve a scheme for a reorganisation, an application may be made to the court for its approval of the scheme1. Before the court gives its sanction, any existing transferee company, or any of its members or creditors, or its liquidator or administrator, may apply to the court for an order that a meeting of the company’s members, or of its creditors (or any class of them) be called in such manner

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