Part V Share Capital, its Increase, Maintenance and Reduction
F1F1Chapter VII Redeemable Shares; Purchase by a Company of its Own Shares
Redemption and purchase generally
163 Definitions of “off-market” and “market” purchase.
1
A purchase by a company of its own shares is “off-market” if the shares either—
a
are purchased otherwise than on F2a recognised investment exchange, or
2
For this purpose, a company’s shares are subject to a marketing arrangement on a recognised stock exchange if either—
a
they are listed F4Part 6 of the Financial Services and Markets Act 2000; or
C1C2b
the company has been afforded facilities for dealings in those shares to take place on F5that investment exchange without prior permission for individual transactions from the authority governing F5that investment exchange and without limit as to the time during which those facilities are to be available.
3
A purchase by a company of its own shares is a “market purchase” if it is a purchase made on a recognised stock exchange, other than a purchase which is an off-market purchase by virtue of subsection (1)(b).
F64
“Recognised investment exchange” means a recognised investment exchange other than an overseas investment exchange.
F65
Expressions used in the definition contained in subsection (4) have the same meaning as in Part 18 of the Financial Services and Markets Act 2000.
Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))