—(1) An amalgamation proposal shall contain the terms of an amalgamation under section 215A and, in particular —
the name of the amalgamated company;
the registered office of the amalgamated company;
the full name and residential address of every director of the amalgamated company;
the share structure of the amalgamated company, specifying —
the number of shares of the amalgamated company;
the rights, privileges, limitations and conditions attached to each share of the amalgamated company; and
whether the shares are transferable or non-transferable and, if transferable, whether their transfer is subject to any condition or limitation;
a copy of the memorandum of the amalgamated company;
the manner in which the shares of each amalgamating company are to be converted into shares of the amalgamated company;
if shares of an amalgamating company are not to be converted into shares of the amalgamated company, the consideration that the holders of those shares are to receive instead of shares of the amalgamated company;
any payment to be made to any member or director of an amalgamating company, other than a payment of the kind described in paragraph (g); and
details of any arrangement necessary to complete the amalgamation and to provide for the subsequent management and operation of the amalgamated company.
(2) An amalgamation proposal may specify the date on which the amalgamation is intended to become effective.
(3) If shares of one of the amalgamating companies are held by or on behalf of another of the amalgamating companies, the amalgamation proposal —
shall provide for the cancellation of those shares without payment or the provision of other consideration when the amalgamation becomes effective; and
shall not provide for the conversion of those shares into shares of the amalgamated company.
(4) A cancellation of shares under this section shall not be deemed to be a reduction of share capital within the meaning of this Act.
(5) For the purposes of subsection (1)(a), the name of the amalgamated company may be —
the name of one of the amalgamating companies; or
a new name that has been reserved under section 27(12).
[NZ, 1993, s. 220; NZ LRC, s. 189]