(1) Where a person is acquiring or proposing to acquire shares in a private company, it is not lawful for a public company that is a subsidiary of that company to give financial assistance directly or indirectly for the purpose of the acquisition before or at the same time as the acquisition takes place.
(2) Subsection (1) does not prohibit a company from giving financial assistance for the acquisition of shares in its holding company if—
(a) the company's principal purpose in giving the assistance is not to give it for the purpose of any such acquisition, or
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