# Companies (Beneficial Interests) Act 1983, Paragraph 3


Where by virtue of section 2 of this Act any shares are exempt from section 37 of the Act of 1980 at the time when they are acquired but the residual interest in question vests in possession before they are disposed of, that section shall apply to the shares as if they had been acquired on the date on which that interest vests in possession.

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Source: https://www.legislation.gov.uk/ukpga/1983/50/schedule/paragraph/3 (the official version)
Page: https://openlegislation.uk/companies-beneficial-interests-act-1983/schedule/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.