Prohibition on intra-group shareholding: subsidiaries barred from holding holding-company shares, except limited representative or trustee exceptions. A subsidiary company is prohibited from holding shares in its holding company, directly or through nominees, and any allotment or transfer of holding-company shares to a subsidiary is void, subject to limited exceptions when the subsidiary holds shares as a legal representative of a deceased member, as a trustee, or if it was a shareholder prior to becoming a subsidiary; voting rights of the subsidiary are confined to shares held under the representative or trustee exceptions, and references to shares in companies without share capital mean members' interests.
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Provisions expressly mentioned in the judgment/order text.
Prohibition on intra-group shareholding: subsidiaries barred from holding holding-company shares, except limited representative or trustee exceptions.
A subsidiary company is prohibited from holding shares in its holding company, directly or through nominees, and any allotment or transfer of holding-company shares to a subsidiary is void, subject to limited exceptions when the subsidiary holds shares as a legal representative of a deceased member, as a trustee, or if it was a shareholder prior to becoming a subsidiary; voting rights of the subsidiary are confined to shares held under the representative or trustee exceptions, and references to shares in companies without share capital mean members' interests.
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