| Commentary

203 Terms and manner of redemption

| Commentary

203 Terms and manner of redemption

The directors of a limited company may determine the terms, conditions and manner of redemption of shares, provided that they are authorised to do so either by the company’s articles, or by a resolution of the company1. In either case, the directors must make their determination before the shares are allotted2. Where the directors have this authority, the company must state the relevant terms, conditions and manner of redemption in any statement of capital as rights attached to the shares3. If the directors are not authorised to make

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial