658 General rule against limited company acquiring its own shares
Companies Act 2006 | Legislation

Part 18 Acquisition by Limited Company of its Own Shares

Chapter 1
General Provisions

Introductory

658  General rule against limited company acquiring its own shares

(1)     A limited company must not acquire its own shares, whether by purchase, subscription or otherwise, except in accordance with the provisions of this Part.

(2)     If a company purports to act in contravention of this section—

(a)     an offence is committed by—

(i)     the company, and

(ii)     every officer of the company who is in default, and

(b)     the purported acquisition is void.

(3)     A person guilty of an offence under this section is liable—

(a)     on conviction on

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