136 Prohibition on subsidiary being a member of its holding company
Companies Act 2006 (2006 c 46) | Legislation

Chapter 4
Prohibition on Subsidiary being Member of its Holding Company

General prohibition

136  Prohibition on subsidiary being a member of its holding company

(1)     Except as provided by this Chapter—

(a)     a body corporate cannot be a member of a company that is its holding company, and

(b)     any allotment or transfer of shares in a company to its subsidiary is void.

(2)     The exceptions are provided for in—

section 138 (subsidiary acting as personal representative or trustee), and

section 141 (subsidiary acting as authorised dealer in securities).

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Serving outside the jurisdiction with court permission—application and order

This Practice Note addresses issues when serving out of the jurisdiction and the permission of the court is required. It explains how to make an application and the form of order required. An application to serve out of the jurisdiction is generally made without notice and on the papers. Key

LEXISNEXIS

HCPC—Main hearing of the Health and Care Professions Tribunal

HCPC—Main hearing of the Health and Care Professions TribunalCoronavirus (COVID-19): This Practice Note contains guidance on subjects impacted by the government’s response to the coronavirus outbreak. In particular, the Health and Care Professions Council (HCPC) (Coronavirus) (Amendment) Rules Order

LEXISNEXIS

The tort of deceit

The tort of deceitDeceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they

LEXISNEXIS

Legal Services Board

Legal Services BoardThe Legal Services Board (LSB) is the single independent oversight regulator of the legal profession and sector in England and Wales. It does not directly regulate individual lawyers and, in most circumstances, will not directly regulate firms.Mandate and structureThe LSB is the