573 Disapplication of pre-emption rights: sale of treasury shares
Companies Act 2006 | Legislation

573  Disapplication of pre-emption rights: sale of treasury shares

(1)     This section applies in relation to a sale of shares that is an allotment of equity securities by virtue of [section 560(3)] (sale of shares held by company as treasury shares).

(2)     The directors of a company may be given power by the articles, or by a special resolution of the company, to allot equity securities as if section 561 (existing shareholders' right of pre-emption)—

(a)     did not apply to the allotment, or

(b)     applied to the allotment with such modifications as the directors may determine.

(3)     The provisions of section 570(2)

 

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