Part 17A company's share capital
Chapter 6Public companies: independent valuation of non-cash consideration
Non-cash consideration for shares
595Exception to valuation requirement: merger F1or division
(1)
Section 593 (valuation of non-cash consideration) does not apply to the allotment of shares by a company F2 as part of a scheme to which Part 27 (mergers and divisions of public companies) applies if—
(a)
in the case of a scheme involving a merger, an expert's report is drawn up as required by section 909, or
(b)
in the case of a scheme involving a division, an expert's report is drawn up as required by section 924.
(2)
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .