C1Part 18Acquisition by limited company of its own shares

Annotations:
Modifications etc. (not altering text)

Chapter 4Purchase of own shares

Supplementary provisions

702Copy of contract or memorandum to be available for inspection

1

This section applies where a company has entered into—

a

a contract approved under section 694 (authorisation of contract for off-market purchase), or

b

a contract for a purchase authorised under section 701 (authorisation of market purchase).

2

The company must keep available for inspection—

a

a copy of the contract, or

b

if the contract is not in writing, a written memorandum setting out its terms.

3

The copy or memorandum must be kept available for inspection from the conclusion of the contract until the end of the period of ten years beginning with—

a

the date on which the purchase of all the shares in pursuance of the contract is completed, or

b

the date on which the contract otherwise determines.

4

The copy or memorandum must be kept available for inspection—

a

at the company's registered office, or

b

at a place specified in regulations under section 1136.

5

The company must give notice to the registrar—

a

of the place at which the copy or memorandum is kept available for inspection, and

b

of any change in that place,

unless it has at all times been kept at the company's registered office.

6

Every copy or memorandum required to be kept under this section must be kept open to inspection without charge—

a

by any member of the company, and

b

in the case of a public company, by any other person.

7

The provisions of this section apply to a variation of a contract as they apply to the original contract.