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Regulation 92 Nature of shares

Original text. Later amendments are not shown.

(1)

Only a share issued on behalf of the core of a protected cell company is to be treated as a share in the protected cell company.

(2)

A share issued on behalf of a cell of a protected cell company is to be treated as a share in that cell.

(3)

A share is personal property (or, in Scotland, moveable property) and is not in the nature of real estate (or heritage).