C1Part 18Acquisition by limited company of its own shares
Annotations:
Modifications etc. (not altering text)
Chapter 6Treasury shares
728Treasury shares: notice of disposal
1
Where shares held by a company as treasury shares—
a
are sold, or
b
are transferred for the purposes of an employees' share scheme,
the company must deliver a return to the registrar not later than 28 days after the shares are disposed of.
2
The return must state with respect to shares of each class disposed of—
a
the number and nominal value of the shares, and
b
the date on which they were disposed of.
3
Particulars of shares disposed of on different dates may be included in a single return.
4
If default is made in complying with this section an offence is committed by every officer of the company who is in default.
5
A person guilty of an offence under this section is liable—
a
on conviction on indictment, to a fine;
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