Part 17A company’s share capital
Chapter 3Allotment of equity securities: existing shareholders' right of pre-emption
Exceptions to right of pre-emption
566Exception to pre-emption right: securities held under employees' share scheme
Section 561 (existing shareholders' right of pre-emption) does not apply to the allotment of securities that would, apart from any renunciation or assignment of the right to their allotment, be held under an employees' share scheme.