[F1 Shares and debentures of company held by subsidiary undertakings]U.K.
Textual Amendments
F1Sch. 5 substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts 6–9, Sch. 2) by Companies Act 1989 (c. 40, SIF 27), ss. 6(2), 213(2), Sch. 3
6(1)The number, description and amount of the shares in F2. . . 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 F3. . . in the case of which the subsidiary undertaking is concerned as personal representative or, subject as follows, as trustee.
(3)The exception for shares F3. . .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.
Textual Amendments
F2Words in Sch. 5 para. 6(1) omitted (2.2.1996) by virtue of S.I. 1996/189, reg. 14(3), Sch. 3 para. 6(2) (with reg. 16)
F3Words in Sch. 5 para. 6(2)(3) omitted (2.2.1996) by virtue of S.I. 1996/189, reg. 14(3), Sch. 3 para. 6(3) (with reg. 16)