Commentary on Sections Overview Part 11: Supplementary provisions Paragraph 87: Consequences of company reconstructions
3206.This paragraph deals with the consequences of company reconstructions, and is the second of two that derive from paragraph 115 of Schedule 8. This paragraph derives from sub-paragraphs (3) to (8) of paragraph 115.
3207.This paragraph presents the legislation in a somewhat different order; and, in particular, the sub-paragraph containing definitions (sub-paragraph (7)) has been placed at the end. As a result of the rewriting of the legislation contained in the SIP code, sub-paragraph (2)(d) has wording that differs from that to be found in the source legislation.
3208.In this paragraph, the label “corresponding shares” has been replaced by the label “corresponding old shares”.