With the consent of the Treasury1, the Secretary of State2 may give one or more directions if he thinks that to do so would be appropriate in connection with a direction which has been given in relation to extinguishment of liabilities3. A direction may be given to:
(1) the company4 whose liability is to be extinguished5;
(2) a company which wholly owns that company6;
(3) a company which is a wholly owned subsidiary of a company falling within head (1) or head (2) above7.
A direction may require the company to issue to the appropriate person8, or to different appropriate
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