Prescribed information relating to proposed compromise or arrangement with members or class of members for transfer to a trustee
Part 4 Prescribed information relating to proposed compromise or arrangement with members or class of members for transfer to a trustee
8401 The statement must set out:
in detail, the basis on which units in the unit trust are to be issued to scheme members; and
if the issue of units in the unit trust is based on the asset backing of shares held by scheme members—full valuation details of those assets.
8402 A copy of the trust deed must be annexed, or set out in a schedule, to the statement.
8403 If the effect of the proposed compromise or arrangement will be the merger of 2 companies without substantial common membership, the explanatory statement must, so far as practicable, state the matters, and be accompanied by the documents and reports, mentioned in Part 3.
This Act’s bill:Explanatory statement
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