488. (1) A division may not be put into effect save under and in accordance with the provisions of this Chapter but this is without prejudice to the alternative of proceeding under Chapter 1 to achieve the same or a similar result to that which can be achieved by such an operation.

(2) A division shall not take effect under this Chapter (or any operation to the same or similar effect under Chapter 1) in the absence of the approval, authorisation or other consent, if any, that is required by any other enactment or a Community act for the division to take effect.