611 Group reconstruction relief
611 Group reconstruction relief
Companies Act 2006 | Legislation

(1)     This section applies where the issuing company—

(a)     is a wholly-owned subsidiary of another company (“the holding company”), and

(b)     allots shares—

(i)     to the holding company, or

(ii)     to another wholly-owned subsidiary of the holding company,

in consideration for the transfer to the issuing company of non-cash assets of a company (“the transferor company”) that is a member of the group of companies that comprises the holding company and all its wholly-owned subsidiaries.

(2)     Where the shares in the issuing company allotted in consideration for the transfer are issued at a premium, the issuing company is not required by

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