Explanatory Notes

Companies Act 2006

2006 CHAPTER 46

8 November 2006


Part 18: Acquisition by Limited Company of Its Own Shares

Chapter 3: Redeemable Shares
Section 688: Redeemed shares treated as cancelled

1002.This section restates section 160(4) of the 1985 Act but with the exception of the reference to the impact of the redemption on the authorised share capital of the company – the concept of which is not replicated under the Act.