Section 561 (existing shareholders' right of pre-emption) does not apply to the allotment of equity securities that would, apart from any renunciation or assignment of the right to their allotment, be held under or allotted or transferred pursuant to an employees' share scheme.
Section 566: Exceptions to pre-emption right: employees' share schemes
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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