Part 18U.K.Acquisition by limited company of its own shares

Modifications etc. (not altering text)

C1Pts. 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))

Chapter 4U.K.Purchase of own shares

Authority for off-market purchaseU.K.

697Variation of contract for off-market purchaseU.K.

(1)A company may only agree to a variation of a contract authorised under section 694 (authority for off-market purchase) if the variation is approved in advance in accordance with this section.

(2)The terms of the variation must be authorised by a F1. . . resolution of the company before it is agreed to.

(3)That authority may be varied, revoked or from time to time renewed by a F2. . . resolution of the company.

(4)In the case of a public company a resolution conferring, varying or renewing authority must specify a date on which the authority is to expire, which must not be later than [F3five years] after the date on which the resolution is passed.

(5)A resolution conferring, varying, revoking or renewing authority under this section is subject to—

Textual Amendments