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

Charges of public company on own shares

670  Public companies: general rule against lien or charge on own shares

(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

Popular documents