PART 4 U.K. Protected Cell Companies

CHAPTER 9 U.K. Shares and shareholders

SECTION 6 U.K. Distributions

Distributions to holders of shares in the core U.K.

126.—(1) This regulation applies where a protected cell company makes a distribution to a person holding a share issued by the protected cell company on behalf of the core.

(2) The distribution may only be made if the protected cell company has no cells.

(3) The distribution must be made from assets held by the protected cell company on behalf of the core.