670 Public companies: general rule against lien or charge on own shares
670 Public companies: general rule against lien or charge on own shares
Companies Act 2006 | Legislation

(1)     A lien or other charge of a public company on its own shares (whether taken expressly or otherwise) is void, except as permitted by this section.

(2)     In the case of any description of company, a charge is permitted if the shares are not fully paid up and the charge is for an amount payable in respect of the shares.

(3)     In the case of a company whose ordinary business—

(a)     includes the lending of money, or

(b)     consists of the provision of credit or the bailment (in Scotland, hiring) of goods under a hire-purchase agreement, or both,

a charge

725 . . .

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