Finance Act 2008

Amendment of section 80 (reconstructions or amalgamations of companies) of Principal Act.

116.— Section 80 of the Principal Act is amended by substituting the following for subsection (1):

“(1) (a) In this section—

‘ acquiring company ’ means, subject to paragraph (b), a company with limited liability;

‘ shares ’ includes stock and references to the undertaking of a target company include references to a part of the undertaking of a target company.

(b) In respect of instruments executed on or after 1 June 2005, references to ‘ acquiring company’, ‘target company’ and ‘company’ shall be construed as including a reference to a society registered under the Industrial and Provident Societies Act 1893.”.