# The International Movement of Capital (Required Information) Regulations 2009, Paragraph 2


(1) The first transaction is the issue of shares by the foreign subsidiary to the reporting body or to a group company.
(2) The conditions are that the issue—
(a) is of shares that are not redeemable; and
(b) is either—
(i) at market value and for consideration paid in cash to the foreign subsidiary, or
(ii) in or towards payment for any business undertaking or property acquired by the foreign subsidiary at market value.

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Source: https://www.legislation.gov.uk/uksi/2009/2192/schedule/paragraph/2 (the official version)
Page: https://openlegislation.uk/international-movement-of-capital-required-information-regulations-2009/schedule/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.