However, since the agreement generally exists only between the purchaser and the target company and not the shareholders of the target company, the share purchase agreements are distinguished by the fact that they often contain only assurances and guarantees from the target company as to their status and financial situation and other similar matters, and not to the assurances and guarantees of the shareholders of the target company. In addition, they contain provisions relating to the convening and holding of a meeting of security holders that are necessary for the approval of the agreement, as well as the request of the target company to obtain judicial authorization for the agreement. In the United Kingdom, the provisions for the implementation of a scheme are contained in the Companies Act 2006, Part 26 (ss.895-901) and part two (specific provisions for state-owned enterprises). Derogatory rights. One of the potential drawbacks of an agreement plan is that, in general, any shareholder who can “dississent” with respect to the transaction may require that his shares be acquired by the target company (or the purchaser) at fair value. In practice, such a deviant means is generally not problematic. Newsletter to the General Assembly. An agreement transaction may require that a newsletter be prepared and sent to the shareholders of the target company with respect to the meeting to be held to approve the plan of the agreement, unless the plan of the agreement can be approved by a decision approved in writing by all shareholders. The establishment of an information circular is more complex when the consideration to be taken into account by the shareholders as part of the agreement plan includes shares of the purchaser, since, in this case, the circular must provide the holders with information about the purchaser and its securities. If necessary, make it easier to holdbacks and modifications. Another advantage of an arrangement transaction is that it may be easier to limit all Target Company shareholders by Holdback provisions if the purchaser insists that a portion of the purchase price be withheld for a certain period of time until the accuracy of the insurance and guarantees of the target company is established, without all shareholders being required to execute a contractual agreement. , as well as facilitating possible future changes to certain conditions without the consent of any shareholder participating in an acquisition agreement. Under a plan, the bidder and the target objective must first reach an agreement to propose the plan to shareholders, which requires the agreement of both the targeted shareholders and the Court of Justice.