SCHEDULES
F2 SCHEDULE 15B
13
1
Where the scheme is a Case 3 Scheme and—
a
the shares in the transferor company, and
b
such securities of that company (other than shares) as carry the right to vote at general meetings of that company,
are all held by or on behalf of one or more transferee companies, Article 420A and this Schedule shall apply subject to sub-paragraphs (2) and (3).
2
The court may sanction a compromise or arrangement under Article 418(2) notwithstanding that—
a
any meeting otherwise required by Article 418 has not been summoned by the transferor company, and
b
paragraphs 2(1)(c) and 3(b) and (e) have not been complied with in respect of that company,
if it is satisfied that the conditions specified in sub-paragraph (3) have been complied with.
3
The conditions referred to in sub-paragraph (2) are—
a
the conditions set out in paragraph 12(5)(a) and (c);
b
that the members of the transferor company and every transferee company concerned in the scheme were able to inspect at the registered office of the company of which they were members copies of the documents listed in paragraph 6(1) in relation to every such company during a period beginning one month before, and ending on, the date of the order under Article 418(2) ( “the relevant date”), and that they were able to obtain copies of those documents or any part of them on request during that period free of charge; and
c
that the directors of the transferor company have sent to every member who would have been entitled to receive a notice of the meeting (had it been called), and to the directors of each transferee company, a report of any material changes in the property and liabilities of the transferor company between the date when the draft terms were adopted and a date one month before the relevant date.
SR 1987/442