Section 910 of The Companies Act No. 17 of 2015: Power of Court to make vesting order
(1) On an application made by a person who—(a) claims an interest in the disclaimed property; or
(b) is under a liability in respect of the disclaimed property that is not discharged by the disclaimer, the Court may make an order under this section in respect of the property.
(2) An order under this section is an order for the vesting of the disclaimed property in, or its delivery to—
(a) a person entitled to it, or a trustee for such a person; or
(b) a person subject to a liability of the kind referred to in subsection (1) (b), or a trustee for such a person.
(3) An order under subsection (2)(b) may be made only if the Court is satisfied that it would be just to do so for the purpose of compensating the person subject to the liability in respect of the disclaimer.
(4) An order under this section may be made on such terms as the Court considers to be fair and reasonable.
(5) On a vesting order being made under this section, the property concerned vests, without conveyance, assignment or transfer, in the person named in the order as the owner of the interest specified in the order.
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(2) The company...
- Section 916 - Application to Court for restoration to the Register
(1) An application may be made to the Court to restore to the Register a company—
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(b) that is taken to have...
- Section 917 - When application to the Court may be made
(1) An application to the Court for restoration of a company to the Register maybe made at any time for the purpose of bringing proceedings against the company for damages for personal injury.
(2) An...
- Section 918 - Decision on application for restoration by the Court
(1) On the hearing of an application made under section 927, the Court may order the company to be restored to the Register—
(a) if the company was struck off the Register under section 894 or 895...
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(1) The effect of an order by the Court for the restoration of the company to the Register is that the company is taken to have continued in existence as if it had not been dissolved or struck off the...
- Section 920 - Company’s name on being restored to the Register
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(2) If, at the date of restoration, the...
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(1) The person in whom property is vested by section 905 may dispose of that property, even though the company has been or may be restored to the Register under this Part.
(2) The following...
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- Section 923 - Court may order meeting of company’s creditors or members to be held
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(a) each notice convening the meeting that is sent to a creditor or member includes...
- Section 925 - Duty of directors and trustees to provide information
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- Section 926 - Court order sanctioning compromise or arrangement
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(b) the members or class of members, present and voting either in person or by...
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“liabilities" includes duties;
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- Section 929 - Obligations of company with respect to its constitution
(1) This section applies—
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(b) to any order under section 927 that alters the company’s constitution.
(2) If an order to which this section applies...
- Section 930 - Interpretation: Part XXXV
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“division" means a scheme of the kind...
- Section 931 - Application of this Part
(1) The Part applies when—
(a) a compromise or arrangement is proposed between a public company and—
(i) its creditors or a specified class of them; or
(ii) its members or a specified class of...
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- Section 933 - Introductory: mergers and merging companies
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(a) the undertaking, property and liabilities of one or more public companies (including the company in respect of which the compromise or...
- Section 934 - Draft terms of scheme for proposed merger
(1) The directors of the merging companies shall prepare and adopt a draft of the proposed terms of the scheme.
(2) Those directors shall ensure that the draft terms contain particulars of at least...
- Section 935 - Draft terms of proposed merger to be published
(1) The directors of each of the merging companies shall lodge with the Registrar for registration a copy of the draft terms.
(2) As soon as practicable after the copy of the draft terms is lodged...
- Section 936 - Scheme not effective unless approved by members of merging companies
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- Section 937 - Directors of merging companies to prepare explanatory report relating to proposed merger
(1) The directors of each of the merging companies shall prepare and adopt a report that complies with subsection (2).
(2) A report complies with this subsection if it includes—
(a) the statement...
- Section 938 - Merging companies to arrange for preparation of experts’ reports
(1) The directors of the merging companies may jointly appoint an expert on behalf of those companies to prepare a written report on the draft terms for presentation to the members of each of those...
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(1) If the last annual financial statements of any of the merging companies relate to a financial year ending more than seven months before the first meeting of the company convened for the purposes...
- Section 940 - Members of merging companies entitled to inspect merger documents
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by an ordinary resolution of the transferor company;...
- Section 942 - Protection of holders of securities to which special rights attached(merger)
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(2) If a person holds securities to which this section applies otherwise...
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A scheme is invalid to the extent that it provides for shares in the transferee company to be allotted to a transferor company (or its nominee) in respect of shares in the transferor company held by...
- Section 944 - Circumstances in which certain particulars and reports not required in relation to merger
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- Section 945 - Circumstances in which meeting of members of transferee company not required for merger
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- Section 946 - Circumstances in which meeting of members of transferee company not required in relation to merger
(1) This section applies to a merger by absorption if all of the relevant securities of—
(a) the transferor company; or
(b) if there is more than one transferor company—of each of them, are held by...
- Section 947 - Other circumstances in which meeting of members of transferee company not required in relation to merger
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- Section 949 - Draft terms of scheme to be prepared and adopted in relation to division
(1) The directors of each company involved in a division shall prepare and adopt a draft of the proposed terms of the scheme.
(2) The directors shall include in the draft terms particulars of at...
- Section 950 - Draft terms relating to division to be published
(1) The directors of each company involved in the division shall lodge a copyof the draft terms with the Registrar for registration.
(2) As soon as practicable after receiving from the company a copy...
- Section 951 - Approval of members of companies involved in division
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- Section 952 - Directors to prepare explanatory report in relation to division
(1) The directors of the transferor company and each existing transferee company shall prepare and adopt a report that complies with subsection (2).
(2) A report complies with this subsection if it...
- Section 953 - Expert’s report to be prepared for each company involved in division
(1) The companies involved in a division may jointly appoint an expert to prepare on behalf of those companies a single written report on the draft terms for presentation to the members of each of...
- Section 954 - Supplementary financial statement to be prepared in relation to divisionin certain cases
(1) If the last annual financial statement of a company involved in the division relate to a financial year ending more than seven months before the first meeting of the company convened for the...
- Section 955 - Members of companies involved in division entitled to inspect certain documents
(1) The members of each company involved in the division are, during the relevant period, entitled—
(a) to inspect at the registered office of that company copies of the relevant documents relating...
- Section 956 - Report on material changes of assets of transferor company involved in division
(1) The directors of the transferor company shall report—
(a) to every meeting of the members, or a specified class of members, of that company convened for the purpose of agreeing to the scheme;...
- Section 957 - Articles of transferee company involved in division to be approved by transferor company
The articles of a new transferee company do not have effect unless they, or a draft of them, have been approved by an ordinary resolution of the transferor company.
- Section 958 - Protection of holders of securities to which special rights attached(division)
(1) This section applies to securities of the transferor company (other than shares) to which special rights are attached.
(2) If a person holds securities to which this section applies otherwise...
- Section 959 - Allotment of shares to transferor company (or its nominee) prohibited
A scheme is void to the extent that it provides for shares in a transferee company to be allotted to the transferor company (or its nominee) in respect of shares in the transferor company held by it...
- Section 960 - Circumstances in which meeting of members of transferor company involved in division is not required
(1) This section applies to a division in respect of which all of the shares or other securities of the transferor company conferring the right to vote at general meetings of the company are held by...