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Companies (Acquisition of Own Shares) (Treasury Shares) Regulations (Northern Ireland) 2004

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Amendment of Article 179 of the 1986 Order

12.—(1) Amend Article 179 of the 1986 Order (disclosure by company of purchase of own shares)(1) as follows.

(2) After paragraph (1) insert the following paragraphs –

(1A) But in the case of a company which has purchased its own shares in circumstances in which Article 172A applies, the requirement to deliver a return under paragraph (1) shall apply only where some or all of the shares have been cancelled forthwith after the date of their delivery in accordance with Article 172D(1) and in those circumstances the particulars required by that paragraph to be stated with respect to the shares purchased shall apply only to such of the shares as have been so cancelled.

(1B) Where a company has purchased its own shares in circumstances in which Article 172A applies, the company shall within the period of 28 days beginning with the date on which such shares are delivered to it (except where all of the shares have been cancelled forthwith after the date of their delivery in the circumstances referred to in paragraph (1A)) deliver to the registrar for registration a return in the prescribed form stating with respect to shares of each class purchased (other than any shares which have been cancelled in the circumstances referred to in paragraph (1A)) the number and nominal value of each of those shares which are held as treasury shares and the date on which they were delivered to the company..

(3) In paragraph (2) for “the return” substitute “any return under paragraph (1) or (1B)”.

(4) In paragraph (3) after “single return” insert “under either paragraph (1) or (1B)”.

(1)

Article 179 was amended by Article 113 of, and Schedule 6 to, the Companies (No. 2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (N.I. 10))

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