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Changes over time for: Cross Heading: Shares and debentures of company held by subsidiary undertakings
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Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 06/04/2008
Status:
Point in time view as at 06/04/1997.
Changes to legislation:
There are currently no known outstanding effects for the Companies Act 1985, Cross Heading: Shares and debentures of company held by subsidiary undertakings.
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Changes to Legislation
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[ Shares and debentures of company held by subsidiary undertakings]U.K.
6(1)The number, description and amount of the shares in . . . the company held by or on behalf of its subsidiary undertakings shall be disclosed.
(2)Sub-paragraph (1) does not apply in relation to shares . . . in the case of which the subsidiary undertaking is concerned as personal representative or, subject as follows, as trustee.
(3)The exception for shares . . .in relation to which the subsidiary undertaking is concerned as trustee does not apply if the company, or any subsidiary undertaking of the company, is beneficially interested under the trust, otherwise than by way of security only for the purposes of a transaction entered into by it in the ordinary course of a business which includes the lending of money.
(4)Schedule 2 to this Act has effect for the interpretation of the reference in sub-paragraph (3) to a beneficial interest under a trust.
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