Nature of sharesU.K.
This
adran has no associated
Memorandwm Esboniadol
92.—(1) Only a share issued on behalf of the core of a protected cell company is to be treated as a share in the protected cell company.
(2) A share issued on behalf of a cell of a protected cell company is to be treated as a share in that cell.
(3) A share is personal property (or, in Scotland, moveable property) and is not in the nature of real estate (or heritage).