Companies Act 2006 (c. 46)

Part 17 U.K. A company's share capital

Modifications etc. (not altering text)

C1 Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))

C2 Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2

Chapter 6 U.K. Public companies: independent valuation of non-cash consideration

Non-cash consideration for shares U.K.

595 Exception to valuation requirement: merger [F1 or division] U.K.

(1) Section 593 (valuation of non-cash consideration) does not apply to the allotment of shares by a company [F2 as part of a scheme to which Part 27 (mergers and divisions of public companies) applies if—

(a) in the case of a scheme involving a merger, an expert's report is drawn up as required by section 909, or

(b) in the case of a scheme involving a division, an expert's report is drawn up as required by section 924.]

(2) F3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) F3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 S. 595: words in heading inserted (1.8.2011 with application in accordance with reg. 1(2)) by The Companies (Reporting Requirements in Mergers and Divisions) Regulations 2011 (S.I. 2011/1606), reg. 2(4)

F2 Words in s. 595(1) substituted (1.8.2011 with application in accordance with reg. 1(2)) by virtue of The Companies (Reporting Requirements in Mergers and Divisions) Regulations 2011 (S.I. 2011/1606), reg. 2(2)

F3 S. 595(2)(3) omitted (1.8.2011 with application in accordance with reg. 1(2)) by virtue of The Companies (Reporting Requirements in Mergers and Divisions) Regulations 2011 (S.I. 2011/1606), reg. 2(3)