http://www.legislation.gov.uk/uksi/2003/1116/introduction
The Companies (Acquisition of Own Shares)(Treasury Shares) Regulations 2003
Capital and financial markets
COMPANIES
2023-06-18
Statute Law Database
2003-04-14
These Regulations further implement the Council Directive 77/91/EEC (OJ No. L26, 31.1.77, p. 1) as amended by 92/101/EEC (OJ No. L347, 28.11.92, p.64) on co-ordination of safeguards which, for the protection of members and others, are required by member states of companies in respect of the formation of public limited liability companies and the maintenance and alteration of their capital, with a view to making such safeguards equivalent. The Regulations amend the Companies Act 1985 (c. 6) (“the 1985 Act”) to permit certain companies to hold shares in treasury following a purchase of own shares as an alternative to cancelling such shares on purchase.
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2003 No. 1116
COMPANIES
The Companies (Acquisition of Own Shares)(Treasury Shares) Regulations 2003
Made
Laid before Parliament
Coming into force
The Secretary of State, being a Minister designated1 for the purposes of section 2(2) of the European Communities Act 19722 in relation to measures relating to the acquisition by companies of their own shares, and to distributions to their shareholders, in exercise of the powers conferred on her by section 2(2) of that Act and of all other powers enabling her in that behalf, hereby makes the following Regulations: