Commercial Companies Law

Article 285 — Article (285) Merger

Part Seven: Conversion, Merger, Divestiture and Acquisition of Companies · Chapter Two: Merger

1. Notwithstanding the provisions of Articles [199, 200 and 201], the Company may, under a special resolution of the General Assembly or an equivalent body, even during the course of liquidation, merge with any other Company under a contract made between the merged companies. 2. Subject to the applicable rules of the Central Bank, if a merger involves companies licensed by the Central Bank, the Minister shall issue a resolution defining the method, conditions, and the procedure of merger for all companies, excluding Public Joint Stock Companies, for which the board of directors of the SCA shall issue a resolution.

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