Paragraph 11

Provision for applying F1sections 836 to 840 of the Companies Act 2006 (relevant accounts for determining whether a distribution is lawful) in relation to any initial distribution of the successor company as if—

The accounts referred to in sub-paragraph (1) above are such accounts as, on such assumptions as may be specified in or made in accordance with any provision of the scheme, would have been prepared under F4Part 15 of the Companies Act 2006 in respect of the last accounting year of the relevant port authority in question ending before the date on which the transfer under section 2 above takes effect.

The provision that may be made by the scheme with respect to those accounts includes provision corresponding to that authorised under paragraph 9(1)(c) above in relation to statutory accounts of the successor company.

The reference in sub-paragraph (1) above to an initial distribution of the successor company is a reference to any distribution declared—