Section 966(3)

The second condition is that the company’s articles of association do not contain any restrictions on the transfer of shares or, if they do contain any such restrictions, provide that they are not to apply to— transfers to the offeror, or at the offeror’s direction to another person, during the offer period, or transfers to any person at a time during the offer period when the offeror holds shares amounting to not less than 75% in value of all the voting shares in the company.

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