Paragraph 7 Transferor company holding its own sharesF1
England, Wales and Scotland
The court shall not sanction under section 425(2) a compromise or arrangement under which any shares in a transferee company are to be allotted to a transferor company or its nominee in respect of shares in that transferor company held by it or its nominee.
Annotations
Textual amendments
- F1
Sch. 15A (old) inserted by S.I. 1987/1991, reg. 2(c), Sch. Pt. II
Notes on Schedule 15B
Textual amendments
- F1
Sch. 15B repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12)
- F2
Sch. 15A renumbered by Companies Act 1989 (c. 40, SIF 27), ss. 114(2), 213(2)