Section 641(2B)

Subsection (2A) does not apply to a scheme under which— the company is to have a new parent undertaking, all or substantially all of the members of the company become members of the parent undertaking, and the members of the company are to hold proportions of the equity share capital of the parent undertaking in the same or substantially the same proportions as they hold the equity share capital of the company.

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