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Changes over time for: Section 706
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Timeline of Changes
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Status:
Point in time view as at 03/10/2022.
Changes to legislation:
Companies Act 2006, Section 706 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.
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Changes to Legislation
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706Treatment of shares purchasedU.K.
This section has no associated Explanatory Notes
Where a limited company makes a purchase of its own shares in accordance with this Chapter, then—
(a)if section 724 (treasury shares) applies, the shares may be held and dealt with in accordance with Chapter 6;
(b)if that section does not apply—
(i)the shares are treated as cancelled, and
(ii)the amount of the company's issued share capital is diminished accordingly by the nominal value of the shares cancelled.
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