https://www.taxtmi.com/acts?id=12317 A body corporate is prohibited from being a member of its holding company and any allotment or transfer of shares to a subsidiary is void, subject to limited exceptions: representation of a deceased member and trustee holdings where the holding company is beneficially interested other than only as security in ordinary lending. A subsidiary that was already a member may continue but generally has no voting rights; the rules apply equally to nominees, and "shares" includes members' interests in guarantee or unlimited holding companies. en-us Fri, 06 May 2011 11:10:58 +0530 Fri, 06 May 2011 11:10:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12317 A body corporate is prohibited from being a member of its holding company and any allotment or transfer of shares to a subsidiary is void, subject to limited exceptions: representation of a deceased member and trustee holdings where the holding company is beneficially interested other than only as security in ordinary lending. A subsidiary that was already a member may continue but generally has no voting rights; the rules apply equally to nominees, and "shares" includes members' interests in guarantee or unlimited holding companies. Act-Rules Companies Law Fri, 06 May 2011 11:10:58 +0530 https://www.taxtmi.com/acts?id=12317