(1) This section applies where the issuing company -
(a) is a wholly-owned subsidiary of another company ("the holding company"), and
(i) to the holding company, or
(ii) to another wholly-owned subsidiary of the holding company,
in consideration for the transfer to the issuing company of non-cash assets of a company ("the transferor company") that is a member of the group of companies that comprises the holding company and all its wholly-owned subsidiaries.
(2) Where the shares in the issuing company allotted in consideration for the transfer are issued at a premium, the issuing company is not required by section 610 to transfer any amount in excess of the minimum premium value to the share premium account.
(3) The minimum premium value means the amount (if any) by which the base value of the consideration for the shares allotted exceeds the aggregate nominal value of the shares.
(4) The base value of the consideration for the shares allotted is the amount by which
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