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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 30 June 2016 - onwards
  Version 2 of 2    

720B. Registration of resolution and supporting documents for purchase of own shares for the purposes of or pursuant to an employees' share scheme

(1) Within 15 days after the passing of the resolution for a payment out of capital by a private company for the purchase of its own shares for the purposes of or pursuant to an employees’ share scheme the company must deliver to the registrar-

(a) a copy of the solvency statement,

(b) a copy of the resolution, and

(c) a statement of capital.

(2) The statement of capital must state with respect to the company's share capital as reduced by the resolution -

(a) the total number of shares of the company,

(b) the aggregate nominal value of those shares,

(ba) the aggregate amount (if any) unpaid on those shares (whether on account of their nominal value or by way of premium), and

(c) for each class of shares -

(i) prescribed particulars of the rights attached to the shares,

(ii) the total number of shares of that class, and

(iii) the aggregate nominal value of shares of that class.

(d) [deleted]

(3) The registrar must register the documents delivered to him under subsection (1) on receipt

Comparing proposed amendment...