Section 976(2)

This subsection applies where— shares carry an entitlement to a particular dividend which other shares of the same class, by reason of being allotted later, do not carry, there is a difference in the value of consideration offered for the shares allotted earlier as against that offered for those allotted later, that difference merely reflects the difference in entitlement to the dividend, and the condition in section 974(3) would be satisfied but for that difference.

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