Paragraph 33

Section 593 (public company: valuation of non-cash consideration for shares) has effect as if after subsection (2) there were inserted—

“(2A)

In relation to a company which is a company under resolution for the purposes of Part 17 of the Bank Recovery and Resolution (No. 2) Order 2014, subsection (1) does not prevent the allotment of shares by the use of resolution tools, powers and mechanisms (within the meaning given in article 216 of that Order), and for the purposes of the Companies Acts such a share is deemed to be fully paid up.”.