(1) Shares which a company has offered to allot to a holder of shares in the company may be allotted to that holder or anyone in whose favour that holder has renounced his or her right to their allotment without contravening section 69(6)(b).
(2) Notwithstanding that any authorisation conferred by a resolution or the constitution such as is mentioned in section 69(1) has expired, the directors of a company may allot shares in pursuance of an offer or agreement previously made by the company, if that authorisation enabled the company to make an offer or agreement which would or might require shares to be allotted after the authorisation's expiry.
(3) For the purposes of section 69 and this section -
(a) "allot" includes "agreement to allot" (other than an agreement made subject to the passing of an ordinary or special resolution);
(b) "shares" includes a right to subscribe for shares or to convert securities into shares.
(4) References in section 69 and this section (however e
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