Section 903 Relationship of this Part to Parts 26 and 26AF5

United Kingdom

(1)

The court must not sanction the compromise or arrangement under F1Part 26 (arrangements and reconstructions: general) or Part 26A (arrangements and reconstructions: companies in financial difficulty) unless the relevant requirements of this Part have been complied with.

(2)

The requirements applicable to a merger are specified in sections 905 to 914.

Certain of those requirements, and certain general requirements of F2Parts 26 and 26A, are modified or excluded by the provisions of sections 915 to F3918A.

(3)

The requirements applicable to a division are specified in sections 920 to 930.

Certain of those requirements, and certain general requirements of F4Parts 26 and 26A, are modified or excluded by the provisions of sections 931 to 934.

Annotations

Textual amendments

F1: Words in s. 903(1) substituted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 36(2)(b) (with ss. 2(2), 5(2))
F2: Words in s. 903(2) substituted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 36(2)(c) (with ss. 2(2), 5(2))
F3: Words in s. 903(2) substituted (1.8.2011 with application in accordance with reg. 1(2)) by The Companies (Reporting Requirements in Mergers and Divisions) Regulations 2011 (S.I. 2011/1606), reg. 4
F4: Words in s. 903(3) substituted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 36(2)(c) (with ss. 2(2), 5(2))
F5: Words in s. 903 heading substituted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 36(2)(a) (with ss. 2(2), 5(2))

Notes on Part 27

Modifications

C1: Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))
C2: Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
C3: Pt. 27 applied (6.4.2008) by S.I. 2001/1228, Sch. 6 paras. 5, 6 (as amended by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 3(1), Sch. 1 para. 223(4) (with arts. 6, 11, 12))
C4: Pt. 27 applied (6.4.2008) by 2000 c. 8, s. 105(5) (as substituted by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 3(1), Sch. 1 para. 211(1) (with arts. 6, 11, 12))