245. Effect of certificate of amalgamation

On the date shown in a certificate of amalgamation—

the amalgamation becomes effective ;

if it has the same name as of one of the amalgamating companies, the amalgamated company shall have the name specified in the amalgamation proposal ;

the Registrar shall remove all particulars relating to the amalgamating companies, other than the amalgamated company, from the Register ;

the amalgamated company succeeds to all the property, rights, powers, and privileges of each of the amalgamating companies ;

the amalgamated company succeeds to all the liabilities and obligations of each of the amalgamating companies ;

proceedings pending by or against an amagamating company may be continued by or against the amalgamated company ;

a conviction, ruling, order, or judgment in favour of or against an amalgamating company, may be enforced by or against the amalgamated company ;

the stated capital of the amalgamated company shall be the sum certified by the auditor of the amalgamated company ; and

any provisions of the amalgamation proposal that provide for the conversion of shares or rights of shareholders in the amalgamating companies, shall have effect according to their tenor.