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))
C2Pts. 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
(1)This section applies where–
(a)a limited company makes a purchase of its own shares in accordance with Chapter 4, and
[F2(b)the purchase is made out of distributable profits.]
F3(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)Where this section applies the company may—
(a)hold the shares (or any of them), or
(b)deal with any of them, at any time, in accordance with section 727 or 729.
(4)Where shares are held by the company, the company must be entered in its register of members [F4[F5(or, as the case may be, the company's name must be delivered to the registrar under Chapter 2A of Part 8)]] as the member holding the shares.
(5)In the Companies Acts references to a company holding shares as treasury shares are to the company holding shares that—
(a)were (or are treated as having been) purchased by it in circumstances in which this section applies, and
(b)have been held by the company continuously since they were so purchased (or treated as purchased).]
Textual Amendments
F1S. 724(1) substituted (30.4.2013) by The Companies Act 2006 (Amendment of Part 18) Regulations 2013 (S.I. 2013/999), reg. 14(2)
F2S. 724(1)(b) substituted (6.4.2015) by The Companies Act 2006 (Amendment of Part 18) Regulations 2015 (S.I. 2015/532), regs. 1(2), 7
F3S. 724(2) omitted (30.4.2013) by virtue of The Companies Act 2006 (Amendment of Part 18) Regulations 2013 (S.I. 2013/999), reg. 14(3)
F4Words in s. 724(4) omitted (26.10.2023 but only so far as it confers a power to make regulations or relates to the exercise of the power, otherwise prosp.) by virtue of Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b), Sch. 1 para. 14
F5Words in s. 724(4) inserted (30.6.2016) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 5 para. 25; S.I. 2016/321, reg. 6(c)