Companies Act (Cap. 386), article 374A

374A. (1) The provisions of articles 361, 362, 363, 364(1) and (2) and articles 365 to 373 shall apply to division by combinat ion of a division by acquisition with a division by formation of on e or more new companies. (2) In addition to the information specified in article 361(2), the draft terms of division, shall also indicate the status, na me and registered office of the n ew company or companies. (3) The draft terms of division and, if they are contained in a separate document, the draft mem orandum and the draft articles of the new company or companies shall be approved by an extraordinary resolution taken a t a general meeting of the comp any to be divided and of each e xisting recipient company. (4) Neither article 364 nor artic le 365, in so far as they relat e to the written report drawn up by one or more experts shall apply in respect of new companies where th e shares in such companies are allocated to the shareholders of the company to be divided in proportion to their holding in the issued share capital of that company. (5) The Registrar shall, after str iking the name of the company to be divided off the register in accordance with the provision s of article 370(1), pro ceed to issue a certificate of registration for each one of the new companies formed, denoting the fact of its formation as a result of the division. Amended by: IV . 2003.144. Chapter IV - Division under the supervisio n of the court Application to court to supervise division and powers of the court in relation thereto. Amended by: IV . 2003.146.