Section 1129 of the Principal Act is amended -

(a) by the substitution of the following subsection for subsection (2):

"(2) In this Chapter ‘merger by absorption’ means an operation whereby, on being dissolved and without going into liquidation, one or more companies transfers or transfer all of its or their assets and liabilities to a company that is the holder of all the shares representing the capital of the first-mentioned company or companies.",

and

(b) in subsection (3), by the substitution of "the first-mentioned company or companies" for "the first-mentioned company" in each place where it occurs.