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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 13 March 2008 - onwards
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739H. Investment undertakings: reconstructions and amalgamations.

(1) In this section -

'exchange', in relation to a scheme of reconstruction or amalgamation, means the issue of units (in this section referred to as 'new units') by an investment undertaking (in this section referred to as the 'new undertaking') to the unit holders of another investment undertaking (in this section referred to as the 'old undertaking') in respect of and in proportion to (or as nearly as may be in proportion to) their holdings of units (in this section referred to as 'old units') in the old undertaking in exchange for the transfer by the old undertaking of all its assets and liabilities to the new undertaking where the exchange is entered into for the purposes of or in connection with a scheme of reconstruction or amalgamation;

'scheme of reconstruction or amalgamation' means a scheme for the reconstruction of any investment undertaking or investment undertakings or the amalgamation of any 2 or more investment undertakings.

(1A) For the purposes of subsection (1) a re

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