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LML4806 Combined TL 2013- 2021., LML4806/201/2/2013
Tutorial letter 201/2/2013
Company Law
LML4806
Semester 2
Department of Mercantile Law
IMPORTANT INFORMATION:
This tutorial letter contains important information
about your module.
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Dear Student,
By now you should have received the following tutorial letters:
1 Tutorial Letter 101/2013
2 Tutorial Letter 102/2013
3 Tutorial Letter 103/2013
CONTENTS
1 COMMENTARY ON ASSIGNMENT 01
2 COMMENTARY ON ASSIGNMENT 02
3 COMMENTARY ON OCTOBER/NOVEMBER 2012 EXAMINATION PAPER
(posted on myUnisa)
1 COMMENTARY ON ASSIGNMENT 01
See sections 1 and 113(2) of the Companies Act of 2008
This transaction would constitute an amalgamation or merger in terms of section 1 of the
Companies Act of 2008 if it involves the amalgamation or merger of two profit companies and
would result in the formation of a new company, TSF Ltd, holding all the assets and liabilities of
Two Square Ltd and Four Block Ltd. Upon completion of the amalgamation or merger, Two
Square Ltd and Four Block Ltd would cease to exist. The amalgamation or merger of Two
Square Ltd and Four Block Ltd is permissible provided that the board of directors of each
company reasonably believe that upon completion of the amalgamation or merger, TSF Ltd will
satisfy the solvency and liquidity test.
The two companies must enter into a written agreement setting out the terms and means of
effecting the amalgamation or merger, and in particular would have to set out the particulars
required in terms of section 113(2) in the agreement.
The directors of Two Square Ltd and Four Block Ltd would then have to submit the proposed
amalgamation or merger agreement to the shareholders of Two Square Ltd and Four Block Ltd
respectively for approval by special resolution. The notice of the shareholders’ meeting would
have to be accompanied by a copy or summary of the amalgamation or merger agreement and
of the provisions of sections 115 and 164 (the last-mentioned section regulates the appraisal
rights of dissenting shareholders).
See Companies and other Business Structures in South Africa par 10.2.2 and 10.3.2 and
study unit 8 of your study guide.
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