# The Bank Recovery and Resolution (No. 2) Order 2014, Paragraph 32


Section 586 (public companies: shares must be at least one-quarter paid-up) has effect as if for subsection (2) there were substituted—
“(2) This does not apply to shares allotted—
(a) in pursuance of an employers' share scheme; or
(b) by the use of resolution tools, powers and mechanisms (within the meaning given in article 216 of the Bank Recovery and Resolution (No. 2) Order 2014) in relation to a company which is a company under resolution for the purposes of Part 17 of that Order.”.

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Source: https://www.legislation.gov.uk/uksi/2014/3348/schedule/4/paragraph/32 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/schedule-4/paragraph-32
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.