Section 250 - Registers

(1) Subject to this section, where a merger becomes effective, the Registrar or any other person charged with the keeping of books or registers shall not be obliged, solely by reason of the merger becoming effective, to change the name of a transferor company to that of a transferee company in the books or registers or any other document kept by the Registrar or any other authorised institution.

(2) Subject to subsection (3), the presentation to the Registrar or any other person charged with the keeping of a book or register, of any instrument, whether or not comprising an instrument of transfer, by the transferee company

(a) executed or purporting to be executed by the transferee company;

(b) relating to any property held immediately before the merger by a transferor company; and

(c) stating that that property has become the property of the transferee company by virtue of this Part and producing the relevant certificate of merger issued under section 248,

shall, in the absence of evidence to the contrary, be sufficient evidence that the property has become the property of the transferee company.

(3) Despite any other enactment or the provisions of any instrument, where a security issued by a person or any rights or interests accrued in respect of a property of any person has, by virtue of this Part, become the property of a transferee company, that person shall,

(a) on presentation of a certificate signed by the chairperson and secretary on behalf of the directors of the transferee company, and

(b) on the authority of a resolution of the directors of the transferee company stating that that security or any such rights or interests have, by virtue of this Part, become the property of the transferee company,

register the transferee company as the holder of that security or as the person entitled to the rights or interests, as the case may be.