Date-stamp loading
Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
  Version 3 of 3    

Regulation 15 Purchase of minority shares.

Repealed from 1 June 2015

(1) Any person being -

(a) a shareholder in any of the merging companies who voted against the special resolution of the company concerned relating to the draft terms of merger, or

(b) in a case to which Regulation 13 (4) (b) relates, any shareholder other than the acquiring company, may, not later than 15 days after the relevant date, request the acquiring company in writing to acquire his shares for cash.

(2) In this regulation "the relevant date" in relation to a company means the date on which the latest general meeting of that company to consider the draft terms of merger, or of any class of the holders of shares or other securities of such company, as required by these Regulations, is held.

(3) Nothing in this regulation shall prejudice the power of the court to make any order necessary for the protection of the interests of a dissenting minority in a merging company.

Comparing proposed amendment...