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

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Amendment of Article 388 of the 1986 Order

26.  In Article 388 of the 1986 Order (registration etc. of resolutions and agreements)(1) after paragraph (4) insert –

(4A) For the purposes of this Article, references to a member of a company do not include the company itself where it is such a member by virtue only of its holding shares as treasury shares, and accordingly, in such circumstances, the company is not, for those purposes, to be treated as a member of any class of the company’s shareholders..

(1)

Article 388 was amended by Part I of Schedule 10 to the Companies (Northern Ireland) Order 1990 (S.I. 1990/593 (N.I. 5)), Part II of Schedule 4 to the Companies (Northern Ireland) Order 1989, Part I of Schedule 9 to the Insolvency (Northern Ireland) Order 1989, S.I. 1995/3272 and S.I. 2001/3755

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