[89A Section 87: exceptions for public issues]
Finance Act 1986 (1986 c 41) | Legislation

[89A  Section 87: exceptions for public issues]

[(1)ÌýÌýÌýÌý Section 87 above shall not apply as regards an agreement to transfer securities other than units under a unit trust scheme to B or B's nominee if—

(a)ÌýÌýÌýÌý the agreement is part of an arrangement, entered into by B in the ordinary course of B's business as an issuing house, under which B (as principal) is to offer the securities for sale to the public,

(b)ÌýÌýÌýÌý the agreement is conditional upon the admission of the securities to the Official List of The Stock Exchange,

(c)ÌýÌýÌýÌý the consideration under the agreement

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