Amendments to the Companies Act 2006

6.  Section 723 (when payment out of capital to be made) is amended as follows—

(a)for the heading substitute “Time when payment out of capital to be made or shares to be surrendered”,

(b)for subsection (1A) substitute—

(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.