Section 169VQ | Exchange of shares for those in another company ^F1

(1)This section applies where section 135 applies in relation to an issue of shares in a company (“company B”) in exchange for shares in another company (“company A”).

(2)For the purposes of sections 169VN to 169VP—

(a)companies A and B are to be treated as if they were the same company, and

(b)the exchange of shares is to be treated as if it were a reorganisation of that company's share capital.