1919th Book1 Division07 Title22 Chapter04 Part09

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BOOK ON OBLIGATIONS.

DIVISION VII. SPECIFIC CONTRACTS.

TITLE XXII. Partnerships and Companies.

Chapter IV. Limited Companies.
Part IX. Amalgamation of limited companies.
Section 1375.
  • A limited company cannot amalgamate with another limited company except by special resolution.

《Genealogies》

  1. Draft of April 1924: -
  2. Code of January 1925: 1238
Section 1376.
  • The special resolution by which an amalgamation is decided must be registered by the company within fourteen days from its date.

《Genealogies》

  1. Draft of April 1924: -
  2. Code of January 1925: 1239
Section 1377.
  • [I] The company must publish seven times in a local paper and send to all creditors known to the company by registered letter a notice of the particulars of the proposed amalgamation requiring the creditors to present within six months after the date of notice any objection they may have to it.
  • [II] If no objection is raised during such period, none is deemed to exist.
  • [III] If an objection is raised, the company cannot proceed with the amalgamation unless it has satisfied the claim or given security for it.

《Genealogies》

  1. Draft of April 1924: -
  2. Code of January 1925: 1240
Section 1378.
  • When the amalgamation has been made, it must be registered within fourteen days by each amalgamated company and the limited company formed by the amalgamation must be registered as a new company.

《Genealogies》

  1. Draft of April 1924: -
  2. Code of January 1925: 1241
Section 1379.
  • The share capital of the new company must be equivalent to the total share capital of the amalgamated companies.

《Genealogies》

  1. Draft of April 1924: -
  2. Code of January 1925: 1242
Section 1380.
  • The new company is entitled to the rights and subject to the liabilities of the amalgamated companies.

《Genealogies》

  1. Draft of April 1924: -
  2. Code of January 1925: 1243