As part of my Company Law coursework was hoping someone could shed some light on the situation.
I understand that financial assistance CANNOT be provided by a plc subsidiary for the acquisition of its own shares. However, I have read in a text book that where a plc HOLDING company provides the assistance for the purchase of the shares of the plc subsidiary then financial assistance CAN be given. The only problem here is the section is very brief and I would appreciate any links to case law which confirmed this.
Thanks in advance!
I understand that financial assistance CANNOT be provided by a plc subsidiary for the acquisition of its own shares. However, I have read in a text book that where a plc HOLDING company provides the assistance for the purchase of the shares of the plc subsidiary then financial assistance CAN be given. The only problem here is the section is very brief and I would appreciate any links to case law which confirmed this.
Thanks in advance!