34.

4

a“

Ch. 31. No. 1.] Companies.

(7) to carry on some business which under existing
circumstances may conveniently or advantageously be
combined with the business of the company; or

(ce) to restrict or abandon any of the objects specified
in the memorandum; or

(f) to sell or dispose of the whole or any part of the
undertaking of the company; or

(g) to amalgamate with any other company or body
of persons.

(2) The alteration shall not take effect until, and
except in so far as, it is confirmed on petition by the Court.
(3) Before confirming the alteration the Court must be
satisfied
(a) that sufficient notice has been given to every
holder of debentures of the company, and to any
person or class of persons whose interests will, in the
opinion of the Court, be affected by the alteration;
and
(0) that, with respect to every creditor who in the
opinion of the Court is entitled to object and who
signifies his objection in manner directed by the Court,
cither his consent to the alteration has been obtained
or his debt or claim has been discharged or has deter-
mined, or has been secured to the satisfaction of the
Court
Provided that the Court may, in the case of any person
or class, for special reasons, dispense with the notice
required by this seetion.

(4) The Court may make an order confirming the
alteration either wholly or in part, and on such terms and
conditions as it thinks fit.

(5) The Court, shall in exercising its discretion under
this section, have regard to the rights and interests of the
members of the company or of any class of them, as well as
to the rights and interests of the creditors, and may, if it
thinks fit, adjourn the proceedings in order that an arrange-
ment may be made to the satisfaction of the Court for the
purchase of the interests of dissentient members, and may
give such directions and make such orders as it may think
expedient for facilitating or carrying into effect any such
arrangement :