Part 18

Acquisition by limited company of its own shares
Chapter 5

Redemption or purchase by private company out of capital

Supplementary provisions

Time when payment out of capital to be made or shares to be surrendered
723
1
The payment out of capital , 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.
1A
Shares to be purchased in accordance with a resolution under section 720A must be surrendered—
a
no earlier than five weeks after the date on which the resolution under section 720A is passed, and
b
no later 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).
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
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)
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))
S. 723 heading substituted (6.4.2015) by The Companies Act 2006 (Amendment of Part 18) Regulations 2015 (S.I. 2015/532), regs. 1(2), 6(a)
S. 723(1A) substituted (6.4.2015) by The Companies Act 2006 (Amendment of Part 18) Regulations 2015 (S.I. 2015/532), regs. 1(2), 6(b)