Section 660(3)

This section does not apply— to shares acquired otherwise than by subscription by a nominee of a public company, where— a person acquires shares in the company with financial assistance given to him, directly or indirectly, by the company for the purpose of or in connection with the acquisition, and the company has a beneficial interest in the shares; to shares acquired by a nominee of the company when the company has no beneficial interest in the shares.

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