Non-recognition of share transfers: amendment removes requirement for amalgamated company to issue shares when it is itself the shareholder. The amendment to section 47 narrows the issuance requirement where, on amalgamation, transfer of shares is not regarded as a transfer: if the amalgamated ... Summary
Non-recognition of share transfers: amendment removes requirement for amalgamated company to issue shares when it is itself the shareholder.
The amendment to section 47 narrows the issuance requirement where, on amalgamation, transfer of shares is not regarded as a transfer: if the amalgamated company itself is a shareholder in the amalgamating company it need not issue shares for the non-recognition provision to apply.
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