Section 920(3)

The draft terms must also— give particulars of the property and liabilities to be transferred (to the extent that these are known to the transferor company) and their allocation among the transferee companies; make provision for the allocation among and transfer to the transferee companies of any other property and liabilities that the transferor company has acquired or may subsequently acquire; and specify the allocation to members of the transferor company of shares in the transferee companies and the criteria upon which that allocation is based.

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Source: legislation.gov.uk · retrieved 2026-09-04