Commentary

264.2 Scope of relief: direct and indirect demergers

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

264.2 Scope of relief: direct and indirect demergers

| Commentary

264.2 Scope of relief: direct and indirect demergers

Subject to certain conditions, the relief in respect of demergers of trades or trading subsidiaries applies to the following1:

  1. 264.2.1

        direct demergers: the straightforward distribution by a company of shares in one or more of its 75% subsidiaries2 to all or any of its shareholders; and

  2. 264.2.2

        indirect demergers: the transfer by a company of a trade or trades or of shares in one or more of its 75% subsidiaries to one or more other companies in return for the issue of shares by the transferee companies to all or any

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