Section 136 | Prohibition on subsidiary being a member of its holding company
From legislation.gov.uk
16 July 2026
(1)Except as provided by this Chapter—
(a)a body corporate cannot be a member of a company that is its holding company, and
(b)any allotment or transfer of shares in a company to its subsidiary is void.
(2)The exceptions are provided for in—
(subsidiary acting as personal representative or trustee), and
(subsidiary acting as authorised dealer in securities).