PART VISHARE CAPITAL, ITS INCREASE, MAINTENANCE AND REDUCTION
CHAPTER VMAINTENANCE OF CAPITAL
Exceptions from Article 154155
1
Article 154(1) does not apply to shares acquired otherwise than by subscription by a nominee of a public company, where a person acquires shares in the company with financial assistance given to him directly or indirectly by the company for the purpose of or in connection with the acquisition and the company has a beneficial interest in the shares.
2
Article 154(1) and (2) does not apply—
a
to shares acquired by a nominee of a company when the company has no beneficial interest in those shares, or
b
to shares issued in consequence of an application made before 1st July 1983, or transferred in pursuance of an agreement to acquire them made before that date.
3
Schedule 2 has effect for the interpretation of references in this Article to a company having, or not having, a beneficial interest in shares.