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of <h1>Subsidiary Companies Cannot Hold Shares in Parent Firms; Allotments or Transfers Are Void Except in Specific Cases.</h1> A subsidiary company is prohibited from holding shares in its holding company, either directly or through nominees. Any allotment or transfer of shares from a holding company to its subsidiary is void. Exceptions include cases where the subsidiary holds shares as a legal representative of a deceased member, as a trustee, or if it held shares before becoming a subsidiary. In such cases, the subsidiary can vote at meetings only for shares held as a legal representative or trustee. For companies limited by guarantee or unlimited without share capital, references to shares mean the members' interest.
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