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Companies Act 2014 section 1034
Expert's report on non-cash assets acquired from subscribers, etc.
Section 1034 requires that when a PLC proposes to acquire non-cash assets from certain connected persons during an initial period, and the value of the transaction is at least one-tenth of the company's issued share capital, the acquisition must be independently valued, reported on, and approved by the members.
Access full legislation.And much more.
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