C2Part 8A company's members
Annotations:
Modifications etc. (not altering text)
Chapter 4Prohibition on subsidiary being member of its holding company
General prohibition
C1136Prohibition on subsidiary being a member of its holding company
1
Except as provided by this Chapter—
a
a body corporate cannot be a member of a company that is its holding company, and
b
any allotment or transfer of shares in a company to its subsidiary is void.
2
The exceptions are provided for in—
section 138 (subsidiary acting as personal representative or trustee), and
section 141 (subsidiary acting as authorised dealer in securities).
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2