046
Reconstruction—continued
modifications of scheme, Court may sanction, 223
transfer of assets by Order of Court under s. 154, 224
unregistered company’s, section applies to, 223
voting at class meetings, 222
committee of inspection, sanction of, 211, 212
compensation for loss of office, 224
disclosure of, 225
general meeting, must ratify, 224
compulsory winding-up, effect of, 216
consideration for sale, 211
controlling interest in company, 221
Gourt, sanction of, when required, 211, 212
creditors, rights of, 216
liquidator to summon meeting of, 212
creditors’ voluntary winding-up, in, 211, 212
debenture holders, debentures allotted to, 216
dissentients to sale, 211, 214
dissentients to scheme, 214. 4nd see Dissentients
abandonment of scheme if many, 214
articles cannot deprive from rights, 216
effectual dissent by, price of shares, how ascertained, 215
fund set apart to meet, 216
notice to liquidator, 214
registered office, should be left at, 214
position of shareholder in old company, 214
dissent, how far effectual, 214
rights of, are statutory, 216
duty on, saving under s. 55 of Finance Act, 1927, 210
Finance Act, 1927, s. 55, 210, 219
conditions of compliance with, 210, 219
documents, form of, 210
renunciation, letters of, use of in, 210, 219
foreign company, sale to, 211
fund to be raised to meet dissentients, 216
injunction, shareholder may obtain, 216
insurance against scheme under s. 234 being inoperative, 216
liquidator, 211. And see Liquidator
appointment of by meeting, 212
creditors to be summoned by, 212
sale by, 211
consideration, 211
only to a company, 211
special resolution to sanction, 211
underwriting, duty in case of, 217
tenders for unsold shares, 219
majority, control by, 211
meetings for special resolution, 212
members’ voluntary winding-up, in, 211, 212
memorandum of association, reconstruction under powers in,
219, 220
memorandum of association, rights of shareholders if fixed by, 213
methods of, 209
name of new company, 213
partly paid shares, sale to new company for, 212
preliminary agreement on underwriting, 218
‘property,’ of company, meaning of, 2171
reconstruction under s. 234, 210
INDEX
