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The Open-Ended Investment Companies Regulations 2001
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Changes over time for: Paragraph 2
Alternative versions:
- 01/12/2001- Amendment
- 06/04/2008- Amendment
- 26/06/2017
Point in time
Status:
Point in time view as at 26/06/2017.
Changes to legislation:
There are currently no known outstanding effects for the The Open-Ended Investment Companies Regulations 2001, Paragraph 2.
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2. 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—U.K.
(a)the scheme in question involves a compromise or arrangement with its shareholders or creditors or any class of its shareholders or creditors; and
(b)the consideration for the transfer or each of the transfers envisaged by the scheme is to be—
(i)shares in the transferee company receivable by shareholders of the transferor company; or
(ii)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.
Textual Amendments
F1Words 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)
F2Words 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)
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