| Commentary

211.3 Approval by special resolution

| Commentary

211.3 Approval by special resolution

Where a private company purchases its own shares out of capital, the shareholders must approve the terms of the payment by a special resolution passed on, or within the week immediately following, the date on which the directors make the statement required by the Companies Act 2006 Section 7141. As with the approval of the purchase contract, it would be unfair if a member holding any of the shares to which the resolution relates were able to influence the outcome of the vote, so such a member is not an eligible member where the resolution

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