691 Payment for purchase of own shares
Companies Act 2006 | Legislation

691  Payment for purchase of own shares

(1)     A limited company may not purchase its own shares unless they are fully paid.

(2)     Where a limited company purchases its own shares, the shares must be paid for on purchase.

[(3)     But subsection (2) does not apply in a case where a private limited company is purchasing shares for the purposes of or pursuant to an employees' share scheme.]

Popular documents