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Changes over time for: Section 908


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 04/01/2024.
Changes to legislation:
Companies Act 2006, Section 908 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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908Directors' explanatory report (merger)U.K.
This section has no associated Explanatory Notes
(1)The directors of each of the merging companies must draw up and adopt a report.
(2)The report must consist of—
(a)[the required statement explaining the effect of the compromise or arrangement,] and
(b)insofar as that statement does not deal with the following matters, a further statement—
(i)setting out the legal and economic grounds for the draft terms, and in particular for the share exchange ratio, and
(ii)specifying any special valuation difficulties.
[(2A)In subsection (2) “the required statement explaining the effect of the compromise or arrangement” means—
(a)in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;
(b)in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.]
(3)The requirement in this section is subject to section 915 (circumstances in which reports not required) [, section 915A (other circumstances in which reports and inspection not required) and section 918A (agreement to dispense with reports etc).].
Textual Amendments
Modifications etc. (not altering text)
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