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138A(1)  For the purposes of this section an earn-out right is so much of any right conferred on any person (“the seller” ) as–

(a)constitutes the whole or any part of the consideration for the transfer by him of shares in or debentures of a company (“the old securities” );

(b)consists in a right to be issued with shares in or debentures of another company (“the new company” );

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