# Companies Act 1985, Paragraph 1: Meeting of transferee company

Extent: E+W+S

Subject to paragraphs 10(1), 12(4) and 14(2), the court shall not sanction a compromise or arrangement under section 425(2) unless a majority in number representing three-fourths in value of each class of members of every pre-existing transferee company concerned in the scheme, present and voting either in person or by proxy at a meeting, agree to the scheme.

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Source: https://www.legislation.gov.uk/ukpga/1985/6/schedule/15B/paragraph/1 (the official version)
Page: https://openlegislation.uk/companies-act-1985/schedule-15B/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.