Section 142(1)

This section applies where— a subsidiary that is a dealer in securities has purportedly acquired shares in its holding company in contravention of the prohibition in section 136, and a person acting in good faith has agreed, for value and without notice of the contravention, to acquire shares in the holding company— from the subsidiary, or from someone who has purportedly acquired the shares after their disposal by the subsidiary.

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