Section 561(1) (existing shareholders' right of pre-emption) does not apply to a particular allotment of equity securities if these are, or are to be, wholly or partly paid up otherwise than in cash.
Section 565: Exception to pre-emption right: issue for non-cash consideration
Companies Act 2006 · 2006 c. 46View on legislation.gov.uk
Part 17: A company's share capital — Chapter 3: Allotment of equity securities: existing shareholders' right of pre-emption
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