Section 583(5)

In relation to the allotment or payment up of shares in a company— counts as consideration other than cash. the payment of cash to a person other than the company, or an undertaking to pay cash to a person other than the company, This does not apply for the purposes of Chapter 3 (allotment of equity securities: existing shareholders' right of pre-emption).

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