{
  "url": "https://openlegislation.uk/companies-act-1985/schedule-15B/paragraph-8",
  "json_url": "https://openlegislation.uk/companies-act-1985/schedule-15B/paragraph-8.json",
  "legislation": "ukpga/1985/6",
  "legislation_title": "Companies Act 1985",
  "legislation_url": "https://openlegislation.uk/companies-act-1985",
  "path": "schedule/15B/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": "Securities other than shares to which special rights are attached",
  "text": "(1) Where any security of a transferor company to which special rights are attached is held by a person other than as a member or creditor of the company, the court shall not sanction a compromise or arrangement under section 425(2) unless under the scheme that person is to receive rights in a transferee company of equivalent value.\n(2) Sub-paragraph (1) above shall not apply in the case of any such security where—\n(a) the holder has agreed otherwise; or\n(b) the holder is, or under the scheme is to be, entitled to have the security purchased by a transferee company involved in the scheme on terms which the court considers reasonable.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 15A (old) inserted by S.I. 1987/1991, reg. 2(c), Sch. Pt. II"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1985/6/schedule/15B/paragraph/8",
    "retrieved_at": "2026-10-29T10:00:40.159612+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}