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Companies Act 2006
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Companies Act 2006, Section 693A is up to date with all changes known to be in force on or before 27 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
- Act amendment to earlier affecting provision S.I. 2008/373 reg. 11(1) by S.I. 2013/1971 reg. 9(a) (This amendment not applied to legislation.gov.uk. Amending Regulations revoked (1.10.2013) without ever being in force by S.I. 2013/2224, reg. 2)
- Act amendment to earlier affecting provision S.I. 2008/373 reg. 3(4) by S.I. 2013/1971 reg. 4 (This amendment not applied to legislation.gov.uk. Amending Regulations revoked (1.10.2013) without ever being in force by S.I. 2013/2224, reg. 2)
- Act amendment to earlier affecting provision S.I. 2014/3348, art. 220A by S.I. 2024/1115 reg. 4(3)
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 479A(2)(c)(zi) inserted by S.I. 2019/177 reg. 4(b)(i) (This amendment not applied to legislation.gov.uk. Reg. 4 substituted by regs. 4, 4A immediately before IP completion day by S.I. 2019/1392, regs. 1(2), 4)
- Sch. 2 Pt. 2 Section (A) para. 25(m) inserted by 2024 c. 13 Sch. 30 para. 30
- Sch. 2 Pt. 2 Section (A) para. 25(j) omitted by 2024 c. 13 Sch. 21 para. 10
- Sch. 2 Pt. 2 Section (A) para. 28 words substituted by 2024 c. 13 Sch. 18 para. 9(2)(a)(i)
- Sch. 2 Pt. 2 Section (A) para. 29 words substituted by 2024 c. 13 Sch. 18 para. 9(2)(a)(ii)
- Sch. 2 Pt. 2 Section (A) para. 36 words substituted by 2024 c. 13 Sch. 18 para. 9(2)(b)
- Sch. 10 para. 6(2D) inserted by S.I. 2019/177 reg. 28(e) (This amendment not applied to legislation.gov.uk. Reg. 28(e) omitted immediately before IP completion day by virtue of S.I. 2020/523, regs. 1(2), 14(e)(iv))
- Sch. 10 para. 7(2A) inserted by S.I. 2019/177 reg. 29(b) (This amendment not applied to legislation.gov.uk. Reg. 29 substituted immediately before IP completion day by S.I. 2020/523, regs. 1(2), 14(f))
[F1693AAuthority for off-market purchase for the purposes of or pursuant to an employees' share schemeU.K.
This section has no associated Explanatory Notes
(1)A company may make an off-market purchase of its own shares for the purposes of or pursuant to an employees' share scheme if the purchase has first been authorised by a resolution of the company under this section.
(2)That authority—
(a)may be general or limited to the purchase of shares of a particular class or description, and
(b)may be unconditional or subject to conditions.
(3)The authority must—
(a)specify the maximum number of shares authorised to be acquired, and
(b)determine both the maximum and minimum prices that may be paid for the shares.
(4)The authority may be varied, revoked or from time to time renewed by a resolution of the company.
(5)A resolution conferring, varying or renewing authority must specify a date on which it is to expire, which must not be later than five years after the date on which the resolution is passed.
(6)A company may make a purchase of its own shares after the expiry of the time limit specified if—
(a)the contract of purchase was concluded before the authority expired, and
(b)the terms of the authority permitted the company to make a contract of purchase that would or might be executed wholly or partly after its expiration.
(7)A resolution to confer or vary authority under this section may determine the maximum or minimum price for purchase by—
(a)specifying a particular sum, or
(b)providing a basis or formula for calculating the amount of the price (but without reference to any person's discretion or opinion).
(8)Chapter 3 of Part 3 (resolutions affecting a company's constitution) applies to a resolution under this section.]
Textual Amendments
F1S. 693A inserted (30.4.2013) by The Companies Act 2006 (Amendment of Part 18) Regulations 2013 (S.I. 2013/999), reg. 7
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