Authority for off-market purchase
This section has no associated Explanatory Memorandum
5. In each of the following provisions of the Act, omit the word “special”—
(a)subsections (2)(a) and (b) and (4) of section 694 (shareholder authorisation required for contract for off-market purchase of company’s own shares),
(b)subsections (2) and (3) of section 697 (shareholder authorisation required for variation of contract for off-market purchase of company’s own shares), and
(c)subsections (2) and (3) of section 700 (shareholder authorisation required for release of company’s rights under contract for off-market purchase of company’s own shares).