90. Conditions for sanctioning a Transfer Scheme

Before the Court may make an order for a Transfer Scheme, it must be satisfied that the transferee, before the Transfer Scheme takes effect —

(a) will have procured all necessary authorisations required to enable the business to be transferred to be carried on in the same manner by the transferee;
(b) has adequate financial resources to carry on the business in accordance with the governing law of the jurisdiction to which it is to be transferred (if applicable).