Version Superseded: 01/10/2009
Point in time view as at 22/11/2000. This version of this provision has been superseded.
There are currently no known outstanding effects for the Companies Act 1985, Section 165.
(1)A contingent purchase contract is a contract entered into by a company and relating to any of its shares—
(a)which does not amount to a contract to purchase those shares, but
(b)under which the company may (subject to any conditions) become entitled or obliged to purchase those shares.
(2)A company may only make a purchase of its own shares in pursuance of a contingent purchase contract if the contract is approved in advance by a special resolution of the company before the contract is entered into; and subsections (3) to (7) of section 164 apply to the contract and its terms.
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