Commentary

264.3.2 Condition applying to direct demerger

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

264.3.2 Condition applying to direct demerger

| Commentary

264.3.2 Condition applying to direct demerger

Condition E: In the case of a direct demerger, the shares transferred must not be redeemable, and must amount to the whole, or substantially the whole, of the distributing company’s holding of the subsidiary’s ordinary share capital, conferring the whole or substantially the whole of the distributing company’s voting rights in that subsidiary1.

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