the Transfer of Undertakings (Protection of Employment) Regulations (TUPE) apply if an undertaking or business is transferred, or if a service provision change is made, but do NOT apply when shares in a limited company are transferred. In the absence of evidence of a sham, an employment tribunal is not permitted to "lift the corporate veil" (i.e. to look behind the legal form) in considering whether a transfer of shares should be treated as amounting to the transfer of an undertaking or business but nevertheless it is possible, where a company is acquired by a group of companies, for its business to be subsumed into that of the group. If that happens, TUPE will apply.

For relevant general notes go to Transfer of business or undertaking/a general introductory note