s 5 Shares held under subsection 17(1) of the *Electricity Act 1949
Where immediately before the transfer date any person holds any shares in the Board under subsection 17(1) of the Electricity Act 1949 all such shares shall as from the transfer date be held by such person in the successor company and the successor company shall issue shares to such person of a value not less than the value of the shares held by such person in the Board immediately before the transfer date.