s 914 No allotment of shares to transferor company or its nominee (merger)
The scheme must not provide for any shares in the transferee company to be allotted to— (a) a transferor company (or its nominee) in respect of shares in the transferor company held by the transferor company itself (or its nominee); or (b) the transferee company (or its nominee) in respect of shares in a transferor company held by the transferee company (or its nominee).