923 Directors' explanatory report (division)

923  Directors' explanatory report (division)

(1)     The directors of the transferor and each existing transferee company must draw up and adopt a report.

(2)     The report must consist of—

[(a)     the required statement explaining the effect of the compromise or arrangement,] and

(b)     insofar as that statement does not deal with the following matters, a further statement—

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