Companies (Beneficial Interests) Act 1983
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Change 1
1 Preliminary
This Act shall have effect, and be deemed always to have had effect, for the interpretation of references to a beneficial interest under a trust, or to a beneficial interest in shares, in the following provisions of the Companies Act 1948 and the Companies Act 1980— (a) section 27(2) of the Act of 1948 (by virtue of which a subsidiary may hold shares in its holding company if the subsidiary is concerned as trustee and neither the holding company nor any of its subsidiaries is beneficially interested under the trust); (b) paragraph 60(2) of Schedule 8 and paragraph 15(3) of Schedule 8A to that Act (by virtue of which the accounts of a holding company need not give particulars of shares or debentures held by a subsidiary in the circumstances described in the said section 27(2)); (c) section 36(6)(a) of the Act of 1980 (by virtue of which the provisions of that section relating to the acquisition of shares by nominees do not apply where the company has no beneficial interest in the shares); and (d) section 37(1)(b), (c) and (d) of that Act (which makes provision for the treatment of shares in a company in which it has a beneficial interest and which are acquired in the circumstances there mentioned).
1 Preliminary
This Act shall have effect, and be deemed always to have had effect, for the interpretation of references to a beneficial interest under a trust, or to a beneficial interest in shares, in the following provisions of the Companies Act 1948 and the Companies Act 1980— (a) section 27(2) of the Act of 1948 (by virtue of which a subsidiary may hold shares in its holding company if the subsidiary is concerned as trustee and neither the holding company nor any of its subsidiaries is beneficially interested under the trust); (b) paragraph 60(2) of Schedule 8 and paragraph 15(3) of Schedule 8A to that Act (by virtue of which the accounts of a holding company need not give particulars of shares or debentures held by a subsidiary in the circumstances described in the said section 27(2)); (c) section 36(6)(a) of the Act of 1980 (by virtue of which the provisions of that section relating to the acquisition of shares by nominees do not apply where the company has no beneficial interest in the shares); and (d) section 37(1)(b), (c) and (d) of that Act (which makes provision for the treatment of shares in a company in which it has a beneficial interest and which are acquired in the circumstances there mentioned).
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