Division 1 Incorporation
Division 2 Powers
Division 1 Prospectuses
Division 2 Restrictions on allotment and commencement of business
Division 3 Shares
Division 3A Reduction of share capital
Division 4 Substantial shareholdings
Division 5 Debentures
Division 5A Exemptions from Divisions 1 and 5 in relation to Prospectus Requirements
Division 6 Interests other than shares, debentures, etc.
Division 7 Title and transfers
Division 7A The Central Depository System — a book-entry or scripless system for the transfer of securities
Division 8 Registration of charges
Division 1 Office and name
Division 2 Directors and officers
Division 3 Meetings and proceedings
Division 4 Register of members
Division 5 Annual return
Division 1 Accounts
Division 2 Audit
Division 1 Preliminary
Division 2 Winding up by Court
Subdivision (1) — General
Subdivision (2) — Liquidators
Subdivision (3) — Committees of inspection
Subdivision (4) — General powers of Court
Division 3 Voluntary winding up
Subdivision (1) — Introductory
Subdivision (2) — Provisions applicable only to members’ voluntary winding up
Subdivision (3) — Provisions applicable only to creditors’ voluntary winding up
Subdivision (4) — Provisions applicable to every voluntary winding up
Division 4 Provisions applicable to every mode of winding up
Subdivision (1) — General
Subdivision (2) — Proof and ranking of claims
Subdivision (3) — Effect on other transactions
Subdivision (4) — Offences
Subdivision (5) — Dissolution
Division 5 Winding up of unregistered companies
Division 1 Investment companies
Division 2 Foreign companies
Division 1 Enforcement of this Act
Division 2 Offences
Division 3 Miscellaneous
| Power to acquire shares of shareholders dissenting from scheme or contract approved by 90% majority |
| Power to acquire shares of shareholders dissenting from scheme or contract approved by 90% majority |
| 215.—(1) Where a scheme or contract involving the transfer of all of the shares or all of the shares in any particular class in a company (referred to in this section as the transferor company) to a person (referred to in this section as the transferee) has, within 4 months after the making of the offer in that behalf by the transferee, been approved as to the shares or as to each class of shares whose transfer is involved by the holders of not less than 90% of the total number of those shares (excluding treasury shares) or of the shares of that class (other than shares already held at the date of the offer by the transferee, and excluding any shares in the transferor company held as treasury shares), the transferee may at any time within 2 months, after the offer has been so approved, give notice in the prescribed manner to any dissenting shareholder that it desires to acquire his shares; and when such a notice is given the transferee shall, unless on an application made by the dissenting shareholder within one month from the date on which the notice was given or within 14 days of a statement being supplied to a dissenting shareholder pursuant to subsection (2) (whichever is the later) the Court thinks fit to order otherwise, be entitled and bound to acquire those shares on the terms which, under the scheme or contract the shares of the approving shareholders are to be transferred to the transferee or if the offer contained 2 or more alternative sets of terms upon the terms which were specified in the offer as being applicable to dissenting shareholders. [15/84; 8/2003; 21/2005] [Act 36 of 2014 wef 03/01/2016]
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