Part 17A company's share capital

Chapter 7Share premiums

Supplementary provisions

616Interpretation of this Chapter

(1)

In this Chapter—

“arrangement” means any agreement, scheme or arrangement (including an arrangement sanctioned in accordance with—

(a)

Part 26 F1or 26A (arrangements and reconstructions), or

(b)

section 110 of the Insolvency Act 1986 (c. 45) or Article 96 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) (liquidator in winding up accepting shares as consideration for sale of company property));

“company”, except in reference to the issuing company, includes any body corporate;

“equity shares” means shares comprised in a company's equity share capital, and “non-equity shares” means shares (of any class) that are not so comprised;

“the issuing company” has the meaning given by section 610(6).

(2)

References in this Chapter (however expressed) to—

(a)

the acquisition by a company of shares in another company, and

(b)

the issue or allotment of shares to, or the transfer of shares to or by, a company,

include (respectively) the acquisition of shares by, and the issue or allotment or transfer of shares to or by, a nominee of that company.

The reference in section 611 to the transferor company shall be read accordingly.

(3)

References in this Chapter to the transfer of shares in a company include the transfer of a right to be included in the company's register of membersF2(or, as the case may be, have your name and other particulars delivered to the registrar under Chapter 2A of Part 8 and registered by the registrar) in respect of those shares.