Schedule 2, Part I, paragraph 9(1)

Any shares in a company which are issued as a consequence of the vesting by a transfer scheme of property, rights and liabilities in the company shall— be issued as fully paid; and treated for the purposes of the application of the Companies Act 1985 in relation to that company as if they had been paid up by virtue of the payment to the company of their nominal value in cash.

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Source: legislation.gov.uk · retrieved 2026-07-30