Section 28
of Act 125
ActRepealedProvision 18 of 37
Section 28
Every licensed borrowing“Company shall inform the
Minister through the Central Bank of any proposed—
(a)
arrangement for the sal¢ of its shares or its business;
(b)
(i)
scheme for the reconstruction of the company;
or
(ii)
scheme for the amalgamation between the com-pany and any other company, wherein the whole or dny part of the undertaking or the property of the company is to be transferred to another company, and the Minister on the recommendation of the Central
Bank may approve or refuse to jallow the proposed arrange-ment or scheme for reconstruc or amalgamation.
MA 6 =— IRGt nee