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223.—(1) Schedule 6 to the Open-Ended Investment Companies Regulations 2001 (mergers and divisions) is amended as follows.U.K.
(2) In the opening words of paragraph 2—
(a)for “section 425 of the 1985 Act” substitute “ section 896 or 899 of the Companies Act 2006 ”, and
(b)for “for an order sanctioning” substitute “ in respect of ”.
(3) In the opening words of paragraph 3—
(a)for “section 425 of the 1985 Act” substitute “ section 896 or 899 of the Companies Act 2006 ”, and
(b)for “for an order sanctioning” substitute “ in respect of ”.
(4) For paragraph 5, substitute—
“5. An application made by virtue of paragraph 2 or 3 shall be treated as one to which Part 27 of the Companies Act 2006 applies (mergers and divisions of public companies), and the provisions of that Part and Part 26 of that Act have effect accordingly, subject to paragraph 6.”.
(5) In paragraph 6—
(a)in sub-paragraph (1), for “All the provisions of the 1985 Act” substitute “ The provisions of the Companies Act 2006 ”;
(b)in sub-paragraph (2), for “a Case 1 Scheme, a Case 2 Scheme or a Case 3 Scheme” substitute “ a merger by absorption, a merger by formation of a new company or a division ”;
(c)in sub-paragraph (3)—
(i)omit paragraph (h);
(ii)in paragraph (i), for “the 1985 Act” substitute “ the Companies Act 2006 ”.