181. Exception for transactions with members or other group companies

Past version: effective from 14/06/2015 - 13/06/2015
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Approval is not required under section 179 (substantial property transactions)—

(a) for a transaction between a company and a person in his character as a member of that company, or
(b) for a transaction between—
(i) a holding company and its wholly-owned subsidiary, or
(ii) two wholly-owned subsidiaries of the same holding company.