Companies Act 2014 section 481

Certain provisions not to apply where court so orders

Section 481 allows the court, when confirming a merger, to waive certain restrictions on financial assistance and reductions in company capital where necessary to give proper effect to the merger.

• When a court confirms a merger under this Chapter, it may include special permissions in its order to facilitate the merger
• The court may permit financial assistance for the acquisition of shares that would normally be prohibited under section 82
• The court may also permit a reduction in company capital that would normally be restricted under section 84
• These permissions are granted only where the court considers them necessary to enable the merger to properly take effect