Part 5Loan Relationships

Chapter 14European cross-border mergers

Introduction

432Meaning of “the transferee” and “transferor”

(1)

In this Chapter, “the transferee” means—

(a)

in relation to a merger within section 431(3)(a), the SE,

(b)

in relation to a merger within section 431(3)(b), the SCE, and

(c)

in relation to a merger within section 431(3)(c) or (d), the company to which assets and liabilities are transferred.

(2)

In this Chapter “transferor” means—

(a)

in relation to a merger within section 431(3)(a), a company merging to form the SE,

(b)

in relation to a merger within section 431(3)(b), a co-operative society merging to form the SCE, and

(c)

in relation to a merger within section 431(3)(c) or (d), a company transferring all its assets and liabilities.