C2C1Part 18Acquisition by limited company of its own shares
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
Chapter 6Treasury shares
F1724Treasury shares
1
This section applies where–
a
a limited company makes a purchase of its own shares in accordance with Chapter 4, and
F3b
the purchase is made out of distributable profits.
F22
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Where this section applies the company may—
a
hold the shares (or any of them), or
b
deal with any of them, at any time, in accordance with section 727 or 729.
4
5
In the Companies Acts references to a company holding shares as treasury shares are to the company holding shares that—
a
were (or are treated as having been) purchased by it in circumstances in which this section applies, and
b
have been held by the company continuously since they were so purchased (or treated as purchased).
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))