Part V Share Capital, its Increase, Maintenance and Reduction

F1F1Chapter VII Redeemable Shares; Purchase by a Company of its Own Shares

Annotations:
Amendments (Textual)

Redemption and purchase generally

169ADisclosure by company of cancellation or disposal of treasury shares

1

Subsection (2) applies in relation to any shares held by a company as treasury shares if—

a

the company is or was required to make a return under section 169(1B) in relation to the shares, and

b

the shares have—

i

been cancelled in accordance with section 162D(1), or

ii

been sold or transferred for the purposes of or pursuant to an employees' share scheme under section 162D(1).

2

Within the period of 28 days beginning with the date on which such shares are cancelled or disposed of, the company shall deliver to the registrar of companies for registration a return in the prescribed form stating with respect to shares of each class cancelled or disposed of—

a

the number and nominal value of those shares, and

b

the date on which they were cancelled or disposed of.

3

Particulars of shares cancelled or disposed of on different dates may be included in a single return to the registrar.

4

If default is made in delivering to the registrar any return required by this section, every officer of the company who is in default is liable to a fine and, for continued contravention, to a daily default fine.