SCHEDULE 6U.K. MERGERS AND DIVISIONS

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.