Schedule 5AA Meaning of “scheme of reconstruction”F1
United Kingdom
- Introductory
- First condition: issue of ordinary share capital
- Second condition: equal entitlement to new shares
- Third condition: continuity of business
- Fourth condition: compromise or arrangement with members
- Preliminary reorganisation of share capital to be disregarded
- Subsequent issue of shares or debentures to be disregarded
- Interpretation
Annotations
Textual amendments
- F1
Sch. 5AA inserted (with effect in accordance with Sch. 9 paras. 7, 8 of the amending Act) by Finance Act 2002 (c. 23), Sch. 9 para. 3