701 Authority for market purchase
Companies Act 2006 | Legislation

Authority for market purchase

701  Authority for market purchase

(1)     A company may only make a market purchase of its own shares if the purchase has first been authorised by a resolution of the company.

(2)     That authority—

(a)     may be general or limited to the purchase of shares of a particular class or description, and

(b)     may be unconditional or subject to conditions.

(3)     The authority must—

(a)     specify the maximum number of shares authorised to be acquired, and

(b)     determine both the maximum and minimum prices that may be paid for the shares.

(4)     The authority may be varied, revoked or from time

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