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112. Conditions for sanctioning a transfer scheme

Before the Court may make an order for a transfer scheme, it must be satisfied that, before the transfer scheme takes effect, the transferee:

(a) will have the authorisation required (if any) to enable the business which is to be transferred to be carried on in the place to which it is to be transferred; and
(b) will possess adequate financial resources to carry on the business concerned in accordance with the legislation applicable in the place to which it is to be transferred.