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TT-Line Arrangements Act 1993
11Prohibition on members of Company acquiring shares for own benefit
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11 Prohibition on members of Company acquiring shares for own benefit
(1) A member of the Company who holds shares in trust for the Crown must not acquire shares in the Company for his or her own benefit.
(2) Any shares acquired in the Company in contravention of subsection (1) are taken to be held in trust for the Crown but the Crown is not liable to meet the cost of that acquisition.