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Section 708: Notice to registrar of cancellation of shares

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

If on the purchase by a company of any of its own shares in accordance with this Part—

section 724 (treasury shares) does not apply (so that the shares are treated as cancelled), or
that section applies but the shares are cancelled forthwith (under section 729 (cancellation of treasury shares)),

the company must give notice of cancellation to the registrar, within the period of 28 days beginning with the date on which the shares are delivered to it, specifying the shares cancelled.

The notice must be accompanied by a statement of capital , except where the statement of capital would be the same as a statement of capital that is required to be delivered to the registrar under section 720B(1).

The statement of capital must state with respect to the company's share capital immediately following the cancellation—

the total number of shares of the company,
the aggregate nominal value of those shares,
the aggregate amount (if any) unpaid on those shares (whether on account of their nominal value or by way of premium), and
for each class of shares—
prescribed particulars of the rights attached to the shares,
the total number of shares of that class, and
the aggregate nominal value of shares of that class, ...
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If default is made in complying with this section, an offence is committed by—

the company, and
every officer of the company who is in default.

A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.

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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.