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Amendment of section 72 of Principal Act
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7. Section 72 of the Principal Act is amended by the substitution of the following subsection for subsection (7):
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“(7) In relation to a company and its shares and capital, the following definitions apply for the purposes of this section:
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‘arrangement’ means any agreement, scheme or arrangement (including an arrangement sanctioned under section 453 or 601);
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‘company’, other than in relation to the issuing company, includes any body corporate;
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‘equity share capital’ means the company’s issued share capital excluding any part of it which, neither as respects dividends nor as respects capital, carries any right to participate beyond a specified amount in a distribution;
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‘equity shares’ means shares comprised in the company’s equity share capital;
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‘non-equity shares’ means shares (of any class) not comprised in the company’s equity share capital.”.
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