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AI Summary of 449. Interpretation (Chapter 1)

Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
Version 2 of 2

449. Interpretation (Chapter 1)

(1) In this Chapter -

"arrangement", in relation to a company, includes a reorganisation of the share capital of the company by the consolidation of shares of different classes or by the division of shares into shares of different classes or by both those methods;

"debenture trustees", in relation to a company, means the trustees of a deed securing the issue of debentures by the company;

"new company" shall be read in accordance with section 455(1)(b)(ii);

"old company" shall be read in accordance with section 455(1)(b)(ii);

"scheme circular" shall be read in accordance with section 452(1)(a);

"scheme meeting" means a meeting of creditors (or any class of creditors) or of members (or any class of members) for the purpose of their considering, and voting on, a resolution proposing that the compromise or arrangement concerned be agreed to;