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Section 699: Resolution authorising variation: disclosure of details of variation

Companies Act 2006 · 2006 c. 46View on legislation.gov.uk

Part 18: Acquisition by limited company of its own shares — Chapter 4: Purchase of own shares

This section applies in relation to a resolution under section 697 (variation of contract for off-market purchase of own shares).

A copy of the proposed variation (if it is in writing) or a written memorandum giving details of the proposed variation (if it is not) must be made available to members—

in the case of a written resolution, by being sent or submitted to every eligible member at or before the time at which the proposed resolution is sent or submitted to him;
in the case of a resolution at a meeting, by being made available for inspection by members of the company both—
at the company's registered office for not less than 15 days ending with the date of the meeting, and
at the meeting itself.

There must also be made available as mentioned in subsection (2) a copy of the original contract or, as the case may be, a memorandum of its terms, together with any variations previously made.

A memorandum of the proposed variation so made available must include the names of the members holding shares to which the variation relates.

A copy of the proposed variation so made available must have annexed to it a written memorandum specifying such of those names as do not appear in the variation itself.

The resolution is not validly passed if the requirements of this section are not complied with.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.