Part V Share Capital, its Increase, Maintenance and Reduction
F1F1Chapter VII Redeemable Shares; Purchase by a Company of its Own Shares
Annotations:
Amendments (Textual)
Redemption and purchase generally
162ATreasury shares
1
Where qualifying shares are purchased by a company out of distributable profits in accordance with section 162, the company may—
a
hold the shares (or any of them), or
b
deal with any of them, at any time, in accordance with section 162D.
2
Where shares are held under subsection (1)(a) then, for the purposes of section 352, the company must be entered in the register as the member holding those shares.
3
In this Act, references to a company holding shares as treasury shares are references to the company holding shares which—
a
were (or are treated as having been) purchased by it in circumstances in which this section applies, and
b
have been held by the company continuously since they were so purchased.
Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))