Schedule 7, paragraph 5(7)

Sub-paragraphs (3) to (6) have effect where shares in a subsidiary of the old company are transferred— as if the reference in sub-paragraph (4) to the terms on which the old company is entitled or subject to anything to which the transfer relates included a reference to the terms on which the subsidiary is entitled or subject to anything immediately before the transfer takes effect, and in relation to an interest or right of the subsidiary, as if the references in sub-paragraph (6) to the transfer of the interest or right included a reference to the transfer of the shares.

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