Part 18Acquisition by limited company of its own shares
Chapter 1General provisions
Shares held by or for public company
663Notice of cancellation of shares
(1)
Where a company cancels shares in order to comply with section 662, it must within one month after the shares are cancelled give notice to the registrar, specifying the shares cancelled.
(2)
The notice must be accompanied by a statement of capital.
(3)
The statement of capital must state with respect to the company's share capital immediately following the cancellation—
(a)
the total number of shares of the company,
(b)
the aggregate nominal value of those shares,
F1(ba)
the aggregate amount (if any) unpaid on those shares (whether on account of their nominal value or by way of premium), and
(c)
for each class of shares—
(i)
prescribed particulars of the rights attached to the shares,
(ii)
the total number of shares of that class, and
(iii)
the aggregate nominal value of shares of that class, F2...
F2(d)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)
If default is made in complying with this section, an offence is committed by—
(a)
the company, and
(b)
every officer of the company who is in default.
(5)
A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.