291 Schemes of arrangement and voluntary liquidations

291 Schemes of arrangement and voluntary liquidations

For the financial promotions regime to apply, there must be a communication made to the shareholders, or debenture or loan stock holders, of the transferor company inviting them to enter into a sale or purchase agreement. This will not occur where a company reorganisation is carried out either:

  1. 291.1

        by a liquidator in the context of a voluntary liquidation under the provisions of Section 110 of the Insolvency Act 19861; or

  2. 291.2

        by means of a scheme of arrangement under Part 26 of the Companies Act 20062.

It follows