21. Section 503 of the Principal Act is amended, in subsection (4)—

(a) in paragraph (h), by the substitution of “company;” for “company; and”,

(b) in paragraph (i), by the substitution of “companies; and” for “companies.”, and

(c) by the insertion of the following paragraph after paragraph (i):

“(j) any fully paid shares previously issued by a successor company, and held by a transferor company, and which are acquired by a successor company in itself pursuant to a division under this Chapter, shall be deemed to be treasury shares held by the successor company concerned to which section 109 applies.”.