C2C1Part 17A company's share capital
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
C3Chapter 3Allotment of equity securities: existing shareholders' right of pre-emption
Pt. 17 Ch. 3 excluded (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 176(4) (with reg. 189)
Existing shareholders' right of pre-emption
I1562Communication of pre-emption offers to shareholders
1
This section has effect as to the manner in which offers required by section 561 are to be made to holders of a company's shares.
2
The offer may be made in hard copy or electronic form.
3
If the holder—
a
b
is the holder of a share warrant,
the offer may be made by causing it, or a notice specifying where a copy of it can be obtained or inspected, to be published in the Gazette.
4
The offer must state a period during which it may be accepted and the offer shall not be withdrawn before the end of that period.
5
The period must be a period of at least F114 days beginning—
a
in the case of an offer made in hard copy form, with the date on which the offer is sent or supplied;
b
in the case of an offer made in electronic form, with the date on which the offer is sent;
c
in the case of an offer made by publication in the Gazette, with the date of publication.
6
The Secretary of State may by regulations made by statutory instrument—
a
reduce the period specified in subsection (5) (but not to less than 14 days), or
b
increase that period.
7
A statutory instrument containing regulations made under subsection (6) is subject to affirmative resolution procedure.
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))