Schemes of Arrangement Overview

Schemes of Arrangement Overview

A Scheme of Arrangement is a procedure under Part 5.1 of the Corporations Act 2001 (Cth) that allows a company to reconstruct its capital, assets or liabilities with the approval of its shareholders and the Court.

The CSP has no processing specific to a Scheme of Arrangement. A Scheme of Arrangement may require processing similar to a Reconstruction, Capital Return or a combination of such events.

In most instances, any processing is conducted between the Participant and the Issuer (Registry). At implementation, the Issuer (Registry) sends a Holding Adjustment transaction to the CSP in respect of holdings in the Target Issuer (and/or the Bidder), on the CSP sub-register with the Issuer (Registry) then sending Holding Adjustment transactions to the CSP in respect of holdings on the CSP sub-register.

The CSP notifies Participants of the Holding Adjustments using the reason code Scheme of Arrangement (SCOA) or Merger (MRGR).

The CSP sub-register is then closed on the record date of the Scheme of Arrangement.

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