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Electricity Companies Act 1997
9Shares
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9 Shares
(1) The consideration for shares issued to the members of a company is any operation, property or right vested in the company by section 10(5) .
(2) Shares issued to the members of a company are held in trust for the Crown.
(3) A member of a company who holds shares in trust for the Crown must not acquire shares in the company for his or her own benefit.
(4) Any shares acquired in a company in contravention of subsection (3) are taken to be held in trust for the Crown but the Crown is not liable to meet the cost of that acquisition.