(1) Where -
(a) an application is made to the court for the sanctioning of a compromise or arrangement under section 453(2)(c), and
(b) it is shown to the court that -
(i) the compromise or arrangement has been proposed for the purposes of or in connection with a scheme for the reconstruction of any company or companies or the amalgamation of any 2 or more companies, and
(ii) under the scheme the whole or any part of the undertaking, assets or liabilities of any company concerned in the scheme (in this section referred to as an "old company") is to be transferred to another company (in this section referred to as the "new company"),
the court may, either by the scheme order or by any subsequent order, make provision for all or any of the matters set out in subsection (2).
(2) The matters for which the court may make such provision are:
(a) the transfer to the new company of the whole or any part of the undertaking, assets or liabilities of any old company;
(b) the allotting or appropri
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