Commentary

291 Schemes of arrangement and voluntary liquidations

COMPANIES vol 11 acquisitions, mergers, demergers

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

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