Companies (Corporate Enforcement Authority) Act 2021
Amendment of section 480 of Principal Act
20. Section 480 of the Principal Act is amended, in subsection (3), by the insertion of the following paragraph after paragraph (a):
“(aa) any fully paid shares previously issued by a successor company, and held by a transferor company, and which are acquired by that successor company in itself pursuant to a merger under this Chapter, shall be deemed to be treasury shares held by the successor company concerned to which section 109 applies;”.