where the share capital of the holding company is divided
into shares of different classes, the aggregate number of the
shares of any class held by all the subsidiaries of the holding
company under subsection (4B) or (6C) or by the holding
company as treasury shares, shall not at any time exceed 10%
of the total number of the shares in that class of the holding
company at that time;
(c) where paragraph (a) or (b) is contravened, the holding
company shall dispose of or cancel the excess shares, or
procure the disposal of the excess shares by its subsidiary, in
accordance with section 76K before the end of the period of 6
months beginning with the day on which that contravention
occurs, or such further period as the Registrar may allow;
(d) where the subsidiary is a wholly-owned subsidiary of the
holding company, no dividend may be paid, and no other
distribution (whether in cash or otherwise) of the holding
company’s assets (including any distribution of assets to
members on a winding up) may be made, to the subsidiary in
respect of the shares referred to in subsection (4B) or (6C);
and
(e) where the subsidiary is not a wholly-owned subsidiary of the
holding company, a dividend may be paid and other
distribution (whether in cash or otherwise) of the holding
company’s assets (including any distribution of assets to
members on a winding up) may be made, to the subsidiary in
respect of the shares referred to in subsection (4B) or (6C).