Section 611(1)

This section applies where the issuing company— is a wholly-owned subsidiary of another company (“the holding company”), and allots shares— in consideration for the transfer to the issuing company of non-cash assets of a company (“the transferor company”) that is a member of the group of companies that comprises the holding company and all its wholly-owned subsidiaries. to the holding company, or to another wholly-owned subsidiary of the holding company,

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