Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 30 April 2013 - onwards
  Version 3 of 3    

697. Variation of contract for off-market purchase

(1) A company may only agree to a variation of a contract authorised under section 694 (authority for off-market purchase) if the variation is approved in advance in accordance with this section.

(2) The terms of the variation must be authorised by a resolution of the company before it is agreed to.

(3) That authority may be varied, revoked or from time to time renewed by a resolution of the company.

(4) In the case of a public company a resolution conferring, varying or renewing authority must specify a date on which the authority is to expire, which must not be later than five years after the date on which the resolution is passed.

(5) A resolution conferring, varying, revoking or renewing authority under this section is subject to -

section 698 (exercise of voting rights), and

section 699 (disclosure of details of variation).

Comparing proposed amendment...