Scheme of arrangement transfers assets and liabilities to transferee company, preserves proceedings and requires registrar filing.

Order under section 232 transfers the transferor company's property, rights and powers to the transferee company without further act or deed, subjects transfers to existing charges unless discharged by the scheme, transfers liabilities and duties to the transferee, preserves continuation of pending proceedings by or against the transferee, directs allotment of shares to non-dissenting members, requires delivery of a certified copy of the order to the Registrar within thirty days leading to dissolution of the transferor and consolidation of files, and includes a Schedule for freehold, leasehold and securities.

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