Section 137(1)

Where a body corporate became a holder of shares in a company— it may continue to be a member of the company. before the relevant date, or on or after that date and before the commencement of this Chapter in circumstances in which the prohibition in section 23(1) of the Companies Act 1985 or Article 33(1) of the Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6)) (or any corresponding earlier enactment), as it then had effect, did not apply, or on or after the commencement of this Chapter in circumstances in which the prohibition in section 136 did not apply,

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Source: legislation.gov.uk · retrieved 2026-09-04