The Industrial and Life Assurance Amalgamation Company, Limited (Acquisition of Shares) Act, 1947

Power of Minister to purchase certain shares of the Terminating Company.

2.—(1) The Minister may purchase the “A” ordinary shares of two shillings each held by any British holding Company in the Terminating Company at a price not exceeding three shillings per share.

(2) No stamp duty shall be payable in respect of the transfer of shares purchased under this section.