C1C2C3Part 27Mergers and divisions of public companies

Annotations:

Chapter 3Division

Requirements to be complied with in case of division

930F1No allotment of shares to transferor company or its nominee (division)

The scheme must not provide for any shares in a transferee company to be allotted to—

a

the transferor company (or its nominee) in respect of shares in the transferor company held by the transferor company itself (or its nominee); or

b

a transferee company (or its nominee) in respect of shares in the transferor company held by the transferee company (or its nominee).