(1) Subject to subsections (12) and (13), there shall, in accordance with this section, be appointed one or more persons to -
(a) examine the common draft terms of division; and
(b) make a report on those terms to the shareholders of the companies involved in the division.
(2) The functions referred to in subsection (1)(a) and (b) shall be performed either -
(a) in relation to each company involved in the division, by one or more persons appointed for that purpose in relation to the particular company by its directors and -
(i) no person may be appointed under this paragraph unless the person's appointment has first been approved by the court on the application to it of the company concerned;
(ii) the directors of each company may appoint the same person or persons for that purpose;
or
(b) in relation to all the companies involved in the division, by one or more persons appointed for that purpose by the court, on the application to it of all of the companies so involved.
(3) The person
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