Clause 9
Exemption from section 59 of Companies Act
of Exchanges (Demutualisation and Merger) Bill
BillNot in forceProvision 9 of 20
Clause 9
Section 59 of the Companies Act (which requires a statement in lieu of a prospectus on allotment of shares) shall not apply to the issue of the transferee holding company’s shares under section 6 or 8.