Companies Act 2006 · 2006 c. 46View on legislation.gov.uk
Part 18: Acquisition by limited company of its own shares — Chapter 5: Redemption or purchase by private company out of capital
The payment out of capital must be approved by a special resolution of the company.
The resolution must be passed on, or within the week immediately following, the date on which the directors make the statement required by section 714.
A resolution under this section is subject to—
section 717 (exercise of voting rights), and
section 718 (disclosure of directors' statement and auditors' report).
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