Part 17A company's share capital
Chapter 3Allotment of equity securities: existing shareholders' right of pre-emption
Exceptions to right of pre-emption
F1566Exceptions to pre-emption right: employees' share schemes
Section 561 (existing shareholders' right of pre-emption) does not apply to the allotment of equity securities that would, apart from any renunciation or assignment of the right to their allotment, be held under or allotted or transferred pursuant to an employees' share scheme.