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4.—(1) In each of sections 694(5), 697(4) and 700(4) of the Companies Act 2006 (authority for off-market purchase, variation of contract for off-market purchase and release of off-market purchase rights: public companies) for “18 months” substitute “five years”.
(2) In section 701(5) of the Companies Act 2006 (authority for market purchase) for “18 months” substitute “five years”.
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