Companies Act 2006

691Payment for purchase of own sharesU.K.
This section has no associated Explanatory Notes

(1)A limited company may not purchase its own shares unless they are fully paid.

(2)Where a limited company purchases its own shares, the shares must be paid for on purchase.

[F1(3)But subsection (2) does not apply in a case where a private limited company is purchasing shares for the purposes of or pursuant to an employees' share scheme.]

Textual Amendments