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The Companies (Acquisition of Own Shares)(Treasury Shares) Regulations 2003
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- UK Statutory Instruments
- 2003 No. 1116
- SCHEDULE
- Paragraph 25
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Amendment of section 380 of the 1985 Act
25. In section 380 of the 1985 Act (registration, etc of resolutions and agreements)(1) after subsection (4) insert—
“(4A) For the purposes of this section, 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)
Section 380 was amended by section 116(3) of the Companies Act 1989, Schedule 11 to the Insolvency Act 1986 and paragraph 10 of Schedule 7 to the Uncertificated Securities Regulations 2001 (S.I. 2001/3755).
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