MERGERS
REQUIREMENTS FROM CLIENTS:
- Approved merger proposal.
- Any certificate required under subsection (2) of section (244)
- A certificate signed by the directors of each transfer or company stating that the merger has been approved.
- Where the transferee company is a new company or the merger proposal provides for a change of name of the transferee company, a copy of the notice reserving the name, ID any, of the company.
- A certificate signed by the directors or proposed directors of the transferee company stating that, where the proportion of the claims of creditors of the transferee company in relation to the value of the assets of the company is greater than the proportion of the claims of creditors of a transferor company in relation to the value of the assets of that transferor company, no creditor shall be prejudiced by that fact.
- A documents in a prescribed form signed by each of the persons named in the merger proposal as a director or secretary of the transferee company consenting to act as a Director or secretary of the company, as the case may be.
- A fairness report regarding the merger and issued by an insolvency practitioner appointed by each company, unless dispensed with under this section 247.
REQUIREMENTS FROM THE REGISTRAR:
The Registrar shall, within 7 days from the date of receipt of the documents, in the case of merger by absorption, issue a certificate of merger, or in the case of merger by formation of a new company.
- Enter the particulars of the transferee company in the register and
- Issue a certificate of merger together with a certificate of incorporation.
