Section 595 | Exception to valuation requirement: merger or division

(1)Section 593 (valuation of non-cash consideration) does not apply to the allotment of shares by a company as part of a scheme to which Part 27 (mergers and divisions of public companies) applies if—^F1

(a)in the case of a scheme involving a merger, an expert's report is drawn up as required by section 909, or^F1

(b)in the case of a scheme involving a division, an expert's report is drawn up as required by section 924.^F1

(2)Repealed^F2

(3)Repealed^F2