SECTION 8Miscellaneous
Holding companies and subsidiaries: prohibition on shareholdings
131.—(1) A protected cell company may not hold shares in a company which is the protected cell company’s holding company (within the meaning given by section 1159 of the Companies Act 2006).
(2) An allotment or transfer of shares issued on behalf of the core or a cell of a protected cell company to a subsidiary (within the meaning given by section 1159 of the Companies Act 2006) of a protected cell company is void.
Contracts between the protected cell company and shareholders
132. A contract between a protected cell company and a person must be in writing or recorded in the minutes of the protected cell company where—
(a)that person holds all the shares issued on behalf of the core of the protected cell company; and
(b)the contract does not relate to the current business of the protected cell company or was concluded under unusual conditions.
Information on capital subscribed
133.—(1) If the protected cell company’s instrument of incorporation specifies an amount of authorised capital in relation to any part of the protected cell company, the protected cell company must notify the FCA of the amount of capital subscribed in relation to that part, unless an increase in the capital subscribed necessitates an amendment to the instrument of incorporation.
(2) The information referred to in paragraph (1) must be provided at least once a year.