C1Part 17A company's share capital

Annotations:
Modifications etc. (not altering text)

Chapter 7Share premiums

Supplementary provisions

616Interpretation of this Chapter

1

In this Chapter—

  • “arrangement” means any agreement, scheme or arrangement (including an arrangement sanctioned in accordance with—

    1. a

      Part 26 (arrangements and reconstructions), or

    2. b

      section 110 of the Insolvency Act 1986 (c. 45) or Article 96 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) (liquidator in winding up accepting shares as consideration for sale of company property));

  • “company”, except in reference to the issuing company, includes any body corporate;

  • “equity shares” means shares comprised in a company's equity share capital, and “non-equity shares” means shares (of any class) that are not so comprised;

  • “the issuing company” has the meaning given by section 610(6).

2

References in this Chapter (however expressed) to—

a

the acquisition by a company of shares in another company, and

b

the issue or allotment of shares to, or the transfer of shares to or by, a company,

include (respectively) the acquisition of shares by, and the issue or allotment or transfer of shares to or by, a nominee of that company.

The reference in section 611 to the transferor company shall be read accordingly.

3

References in this Chapter to the transfer of shares in a company include the transfer of a right to be included in the company's register of members in respect of those shares.