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Ancillary Provisions

Volume 980: debated on Monday 3 March 1980

The text on this page has been created from Hansard archive content, it may contain typographical errors.

Amendments made:

No. 334, in page 55, line 23, leave out subsection (1) and insert—

'(1) Where immediately before the appointed day a company is authorised by any provision of its articles to apply its unrealised profits in paying up in full or in part unissued shares to be allotted to members of the company as fully or partly paid bonus shares, that provision shall, subject to any subsequent alteration of the articles, continue to be construed as authorising those profits to be so applied after the appointed day.'.

No. 60, in page 56, line 9, leave out 'issued' and insert 'allotted'.—[ Mr. Eyre.]