28. Submission to Minister of scheme for amalgamation of assurance companies.

(1) Any two or more Saorstát Eireann companies which, on the 31st day of October, 1935, carried on in Saorstát Eireann life assurance business or industrial assurance business or both such businesses (in this Part of this Act referred to as promoting companies) may, notwithstanding anything contained in the articles and memorandum of association of such companies whether such companies do or do not carry on any other class of assurance business, submit to the Minister at any time before the appointed day a scheme in writing for the amalgamation into one company (in this Part of this Act and in the First Schedule to this Act referred to as the amalgamated company) of such promoting companies so far as respects the life assurance business (if any) and the industrial assurance business (if any) carried on by each of them respectively, and the transfer to some other Saorstát Eireann company or companies (in this Part of this Act referred to as the transferee companies) of the sever