552. Exception To Valuation Requirement: Merger Or Division
(1) Section 550 (valuation of non-cash consideration) does not apply to the allotment of shares by a company as part of a scheme to which Part 26 (mergers and divisions of public companies) applies if-
(a) in the case of a scheme involving a merger, an expert’s report is drawn up as required by section 816 (expert’s report (merger)), or
(b) in the case of a scheme involving a division, an expert’s report is drawn up as required by section 836 (expert’s report (division)).