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The Companies Act 2006 (Amendment of Part 18) Regulations 2013
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- UK Statutory Instruments
- 2013 No. 999
- Regulation 14
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Treasury shares
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14.—(1) Section 724 of the Act (treasury shares) is amended as follows.
(2) For subsection (1), substitute—
“(1) This section applies where–
(a)a limited company makes a purchase of its own shares in accordance with Chapter 4, and
(b)the purchase is made—
(i)out of distributable profits, or
(ii)with cash under section 692(1)(b).”.
(3) Omit subsection (2).
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