One or more companies may, even if they are under liquidation, merge with another company of a similar form or of another form. The merger shall be effected by either of the following two methods: 1. incorporation: i.e. dissolution of one or more companies and transferring their assets and liabilities to an existing company; 2. consolidation: i.e. dissolution of two or more companies and establishment of a new company to which the assets and liabilities of each of the merged companies shall be transferred. Subject to the provisions of Articles 34, 35, 36, 37, 38 & 39 of this Law, the Regulations shall specify the procedures and rules which must be observed by the companies wishing to merge and the method of evaluation of their assets.
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