SCHEDULES

SCHEDULE 7 Other amendments of 1986 Act

Transfer of business to commercial company

I145

1

In subsection (2) of section 97 of the 1986 Act (transfer of business to commercial company), after the words “section 99,” there shall be inserted the words “ section 99A, ”.

2

In subsection (3) of that section, the words from “and for the purposes” to the end shall cease to have effect.

3

In subsection (12) of that section, after the definition of “the requisite protective provisions” there shall be inserted the following definition—

  • “the requisite shareholders” resolution’ has the meaning given by paragraph 30(1) of Schedule 2;

4

After that subsection there shall be inserted the following subsection—

13

References in this section, and the other applicable provisions of this Act, to a company include references to a body corporate which—

a

is incorporated in an EEA State other than the United Kingdom; and

b

has power under its constitution to offer its shares or debentures to the public;

and in this subsection “EEA State” means a Contracting Party to the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 as adjusted by the Protocol signed at Brussels on 17th March 1993.