section 593 valuation

section 593 valuation
United Kingdom
A valuation by an independent party of the non-cash consideration offered for shares to be allotted in a public company (section 593, Companies Act 2006). A report on the value must be made to the company within six months of the proposed allotment and sent to the proposed allottee. (Section 593 of the Companies Act 2006 replaced section 103 of the Companies Act 1985 on 1 October 2009.)
For further details, see Practice note, Allotment and issue of shares (www.practicallaw.com/5-422-4150).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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