Companies Act 2014 section 465

Chapters 1 and 3: mutually exclusive modes of proceeding to achieve merger

Section 465 establishes that the two available routes for carrying out a merger under Part 9 — Chapter 1 and Chapter 3 — are mutually exclusive and cannot be mixed.

• A merger must be carried out entirely under either Chapter 1 or Chapter 3 of Part 9.
• It is not permissible to use one chapter for some elements of the merger and the other chapter for the remaining elements.
• The two chapters represent distinct, self-contained procedures that cannot be combined in any way.
• Companies must choose one route at the outset and follow it through for every aspect of the merger operation.