§ 215G — Effect of amalgamations

215G. On the date shown in a notice of amalgamation —(a)

the amalgamation is effective;

(b)

the amalgamated company has the name specified in the amalgamation proposal;

(c)

all the property, rights and privileges of each of the amalgamating companies are transferred to and vest in the amalgamated company;

(d)

all the liabilities and obligations of each of the amalgamating companies are transferred to and become the liabilities and obligations of the amalgamated company;

(e)

all proceedings pending by or against any amalgamating company may be continued by or against the amalgamated company;

(f)

any conviction, ruling, order or judgment in favour of or against an amalgamating company may be enforced by or against the amalgamated company; and

(g)

the shares and rights of the members in the amalgamating companies are converted into the shares and rights provided for in the amalgamation proposal.