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Companies Act 2006

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Changes over time for: Section 936

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Point in time view as at 17/06/2016.

Changes to legislation:

Companies Act 2006, Section 936 is up to date with all changes known to be in force on or before 05 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

936Experts and valuers: independence requirementU.K.
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(1)A person meets the independence requirement for the purposes of section 909 or 924 (expert's report) or section 935 (valuation by another person) only if—

(a)he is not—

(i)an officer or employee of any of the companies concerned in the scheme, or

(ii)a partner or employee of such a person, or a partnership of which such a person is a partner;

(b)he is not—

(i)an officer or employee of an associated undertaking of any of the companies concerned in the scheme, or

(ii)a partner or employee of such a person, or a partnership of which such a person is a partner; and

(c)there does not exist between—

(i)the person or an associate of his, and

(ii)any of the companies concerned in the scheme or an associated undertaking of such a company,

a connection of any such description as may be specified by regulations made by the Secretary of State.

(2)An auditor of a company is not regarded as an officer or employee of the company for this purpose.

(3)For the purposes of this section—

(a)the “companies concerned in the scheme” means every transferor and existing transferee company;

(b)associated undertaking”, in relation to a company, means—

(i)a parent undertaking or subsidiary undertaking of the company, or

(ii)a subsidiary undertaking of a parent undertaking of the company; and

(c)associate” has the meaning given by section 937.

(4)Regulations under this section are subject to negative resolution procedure.

Commencement Information

I1S. 936 wholly in force at 6.4.2008; s. 936 not in force at Royal Assent, see s. 1300; s. 936 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 936 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(m) (with savings in arts. 7, 12 and subject to Sch. 1 para. 21)

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