The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009

Old public company holding, or having charge on, own shares U.K.

7.—(1) In sections 662 to 669 of the Companies Act 2006 (treatment of shares held by or for public company) references to a public company do not include an old public company.

(2) Section 668 of that Act (application of sections 662 to 667 to private company re-registering as public company) applies to an old public company as to a private company.

(3) In the case of a company that—

(a) after the relevant date remained an old public company, and

(b) did not before that date apply to be re-registered as a public company,

any charge on its own shares which was in existence on or immediately before that date is a permitted charge and not void under section 670 of the Companies Act 2006.

(4) For the purposes of sub-paragraph (3) the relevant date is—

(a) in relation to a company registered in Great Britain, 22nd March 1982;

(b) in relation to a company registered in Northern Ireland, 30th September 1984.