(1) A draft of the proposed terms of the scheme must be drawn up and adopted by the directors of each of the companies involved in the division.
(2) The draft terms must give particulars of at least the following matters—
(a) in respect of the transferor company and each transferee company—
(i) its name,
(ii) the address of its registered office, and
(iii) whether it is a company limited by shares or a company limited by guarantee and having a share capital;
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