49 Issue of securities

Ownership of transferee companies

49  Issue of securities

(1)     This section applies if any property, rights or liabilities are transferred under a transfer scheme to a transferee which at the time of the transfer is a company falling within subsection (4).

(2)     The Secretary of State may give a direction under this section to the transferee if when the direction is given it is a company falling within subsection (4).

(3)     A direction

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