Companies Act

936. Scheme not effective unless approved by members of merging companies

Edition: 2024-12-27 · In force

936. Scheme not effective unless approved by members of merging companies

(1)A scheme has no effect unless it is approved by a majority in number, representing seventy-five percent in value, of each class of members of each of the merging companies, present and voting either in person or by proxy at a meeting.

(2)Subsection (1) is subject to sections 945, 946 and 947.

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Source: Kenya Law