Paragraph 2
United Kingdom
An open-ended investment company may apply to the court under F1section 896 or 899 of the Companies Act 2006 (power of company to compromise with creditors and members) F2in respect of a scheme falling within any of sub-paragraphs (a) to (c) of paragraph 4(1) where—
the scheme in question involves a compromise or arrangement with its shareholders or creditors or any class of its shareholders or creditors; and
the consideration for the transfer or each of the transfers envisaged by the scheme is to be—
shares in the transferee company receivable by shareholders of the transferor company; or
where there is more than one transferor company and any one or more of them is a public company, shares in the transferee company receivable by shareholders or members of the transferor companies (as the case may be);
in each case with or without any cash payment to shareholders.
Annotations
Textual amendments
- F1
Words in Sch. 6 para. 2 substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 223(2)(a) (with arts. 6, 11, 12)
- F2
Words in Sch. 6 para. 2 substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 223(2)(b) (with arts. 6, 11, 12)