Company Law Enforcement Act, 2001
Non-application of certain provisions concerning acquisition by subsidiary of shares in its holding company. |
111.—(1) None of the following— | |
(a) section 32 or 60 of the Act of 1963, | ||
(b) Part XI of the Act of 1990, or | ||
(c) the European Communities (Public Limited Companies Subsidiaries) Regulations, 1997 ( S.I. No. 67 of 1997 ), | ||
shall apply to the subscription by a subsidiary for, or the acquisition or holding by a subsidiary of, shares in its holding company if the subsidiary is a member of an approved stock exchange specified in section 17(2) of the Stock Exchange Act, 1995 , acting in its capacity as a professional dealer in securities in the normal course of its business. | ||
(2) In addition to the meaning assigned to it by section 155 of the Act of 1963, “subsidiary” in this section means a company or other body corporate referred to in paragraph (2) of Regulation 4 of the European Communities (Public Limited Companies Subsidiaries) Regulations, 1997 ( S.I. No. 67 of 1997 ), which, by virtue of paragraph (1) of that Regulation, is deemed to be a subsidiary of a public limited company. |