113. Notification of business transfer scheme

Before an application is made to the High Court under subsection 114(1), a transferor shall publish in the Gazette a notice stating its intention to make the application to the High Court for confirmation of the business transfer scheme.

In addition to the notice under subsection (1), the Bank may require the transferor to give such other notice in respect of the business transfer scheme and for such purpose, the Bank may specify the following requirements:

Where any person files an objection to the proposed scheme, the transferor, with the approval of the Bank, may modify the scheme.