Q&As

How may shares in a limited company be cancelled?

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Published on LexisPSL on 08/05/2017

The following Corporate Q&A provides comprehensive and up to date legal information covering:

  • How may shares in a limited company be cancelled?

How may shares in a limited company be cancelled?

A limited company having a share capital may not alter that share capital, except in the ways listed in section 617 of the Companies Act 2006 (CA 2006). Shares in a company cannot simply be cancelled without following an appropriate procedure as permitted by that statutory provision. If a cancellation of shares is proposed using one of those procedures, the company must

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