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Section 19
what if subsidiary company receive share as legal representative from non deceased member ???
Replies (2)
Exceptions applicable to subsidiary company to not to hold shares in its holding Company:
[a] where the subsidiary company holds such shares as the legal representative of a deceased member of the holding company; or
[b] where the subsidiary company holds such shares as a trustee; or
[c] where the subsidiary company is a shareholder even before it became a subsidiary company of the holding company:
If subsidiary company receive shares as legal representative from non deceased member it is not allowed.
[a] where the subsidiary company holds such shares as the legal representative of a deceased member of the holding company; or
[b] where the subsidiary company holds such shares as a trustee; or
[c] where the subsidiary company is a shareholder even before it became a subsidiary company of the holding company:
If subsidiary company receive shares as legal representative from non deceased member it is not allowed.
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