Types of transaction - reconstructions:
It will be seen that methods (a) and (b) relate to specific types of transaction. They can only be used in those transactions. The flexibility of a scheme of arrangement has led to its extended use though there is some doubt whether it is correct to use it in a situation where company law affords some other and more specific procedures.
Where there is a choice of method the choice is usually between a scheme of arrangement and some more specific alternative method.