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Companies Act 2006

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Changes over time for: Cross Heading: Introductory

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Point in time view as at 03/10/2022.

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Companies Act 2006, Cross Heading: Introductory is up to date with all changes known to be in force on or before 04 March 2025. 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. Help about Changes to Legislation

IntroductoryU.K.

709Power of private limited company to redeem or purchase own shares out of capitalU.K.

(1)A private limited company may in accordance with this Chapter, but subject to any restriction or prohibition in the company's articles, make a payment in respect of the redemption or purchase of its own shares otherwise than out of distributable profits or the proceeds of a fresh issue of shares.

(2)References below in this Chapter to payment out of capital are to any payment so made, whether or not it would be regarded apart from this section as a payment out of capital.

[F1(3)This Chapter is subject to section 692(1ZA) (purchase of own shares up to annual limit).]

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