Commentary

141.3 Assignment of the benefit of a debt owed by the target company to the buyer

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

141.3 Assignment of the benefit of a debt owed by the target company to the buyer

| Commentary

141.3 Assignment of the benefit of a debt owed by the target company to the buyer

Any assignment to the buyer of the benefit of a debt owed by the target company to the seller for consideration will be exempt from stamp duty so long as the terms of the loan do not include:

  1. 141.3.1

        a right of conversion to shares or other securities or acquisition of shares or securities, including loan capital;

  2. 141.3.2

        a right to interest which will be determined by reference to results of a business or to the value of any property;

  3. 141.3.3

        a right

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