Companies Act 2006 (c. 46)

Part 18 U.K. Acquisition by limited company of its own shares

Modifications etc. (not altering text)

C1 Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2

Chapter 5 U.K. Redemption or purchase by private company out of capital

Supplementary provisions U.K.

723 When payment out of capital to be made U.K.

(1) The payment out of capital [F1 , if made in accordance with a resolution under section 716] must be made—

(a) no earlier than five weeks after the date on which the resolution under section 716 is passed, and

(b) no more than seven weeks after that date.

[F2 (1A) The payment out of capital, if made in accordance with a resolution under section 720A must be made—

(a) no earlier than five weeks after the date on which the shares to which the capital payment relates are surrendered, and

(b) no more than seven weeks after that date.]

(2) This is subject to any exercise of the court's powers under section 721(5) (power to alter or extend time where resolution confirmed after objection).

Textual Amendments

F1 Words in s. 723(1) inserted (30.4.2013) by The Companies Act 2006 (Amendment of Part 18) Regulations 2013 (S.I. 2013/999), reg. 13(2)

F2 S. 723(1A) inserted (30.4.2013) by The Companies Act 2006 (Amendment of Part 18) Regulations 2013 (S.I. 2013/999), reg. 13(3)