s.232Definitions in this Part
232
Section 232Part 16 — Merger, Consolidation and Conversion

Definitions in this Part

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Amended by LG13/S2
In this Part — “ consolidated company ” means the new company that results from the consolidation of two or more constituent companies; “ consolidation ” means the combination of two or more constituent companies into a consolidated company and the vesting of the undertaking, property and liabilities of such co mpanies in the consolidated company; “ constituent company ” means a company that is participating in a merger or consolidation with one or more other companies; “ foundation company ” means a company which is issued a declaration that it is a foundation company under section 5 of the Foundation Companies Act (2025 Revision) ; “ LLC agreement ” has the meaning assigned by section 2 of the Limited Liability Companies Act (202 5 Revision) ; “ merger ” means the merging of two or more constituent companies and the vesting of their undertaking, property and liabilities in one of such companies as the surviving company; “ parent company ” means, with respect to another company, a company that holds i ssued shares that together represent at least ninety per cent of the votes at a general meeting of that other company; “ subsidiary company ” means, with respect to another company, a company of which that other company is the parent company; and “ surviving company ” means the sole remaining constituent company into which one or more other constituent companies are merged .

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