C1Part 18Acquisition by limited company of its own shares
Annotations:
Modifications etc. (not altering text)
Chapter 5Redemption or purchase by private company out of capital
Requirements for payment out of capital
716Payment to be approved by special resolution
1
The payment out of capital must be approved by a special resolution of the company.
2
The resolution must be passed on, or within the week immediately following, the date on which the directors make the statement required by section 714.
3
A resolution under this section is subject to—
section 717 (exercise of voting rights), and
section 718 (disclosure of directors' statement and auditors' report).
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