TT-Line Arrangements Act 1993
9ALimitations on members of Company
Start here
Get a plain-English read of 9A
Turn the raw legal text into a practical explanation grounded in TT-Line Arrangements Act 1993.
9A Limitations on members of Company
[Section 9A Inserted by No. 20 of 2025, s. 22, Applied:27 Nov 2025]
(1) A member of a Company must not sell or otherwise dispose of shares held by that member in trust for the Crown.
(2) A member of a Company must not vote at a meeting of the shareholders of the Company to allow the Company to –
(a) offer shares in the Company for subscription; or
(b) invite persons to subscribe for shares in the Company; or
(c) allot or issue shares in the Company on a basis other than to existing shareholders pro rata to their existing shareholding.
(3) If an Act intends to amend or repeal subsection (1) , that Act is of no effect unless a motion that approves the proposed amendment or repeal has first been passed by at least two-thirds of the members of each House of Parliament.
(4) For the avoidance of doubt, if there is an inconsistency between this section and the memorandum and articles of the Company, this section prevails to the extent of the inconsistency.