Allotment of shares (division)

4.  For section 930 of the Companies Act 2006 (no allotment of shares to transferor company or its nominee) substitute—

“No allotment of shares to transferor company or to transferee company (division)

930.  The scheme must not provide for any shares in a transferee company to be allotted to—

(a)the transferor company (or its nominee) in respect of shares in the transferor company held by the transferor company itself (or its nominee); or

(b)a transferee company (or its nominee) in respect of shares in the transferor company held by the transferee company (or its nominee).”.