48(4)The expression “arrangement” as used in this section shall be construed as extending to any reorganization of the share capital of the company including, without limiting the foregoing, the consolidation of shares of different classes, the division of shares of different classes, the conversion of shares into shares of another class or classes and the modification of the provisions attaching to shares of any class or classes and as including an amalgamation or reconstruction as hereinafter defined which expression “amalgamation or reconstruction” means an arrangement pursuant to which a company, in this subsection called “the transferor company,” transfers or sells or proposes to transfer or sell to any other company, in this subsection called “the transferee company”, the whole or a substantial part of the business and assets of the transferor company for a consideration consisting in whole or in part of shares, debentures or other securities of the transferee company and either, any part of such consideration is proposed to be distributed among shareholders of the transferor company of any class, or the transferor company proposes to cease carrying on the business or part of its business so sold or transferred or proposed to be sold and transferred.