"Subject to section 36(5) of this Act'.
§ Mr. Eyre
These amendments make it clear that clause 36 takes precedence over clause 35 where shares are issued in circumstances in which both clauses would otherwise apply. That is because clause 36 provides slightly more restrictive relief from section 56 of the 1948 Act than that offered by clause 35, to take account of the particular characteristics of intra-group reconstructions.
Amendment agreed to.