713 Requirements for payment out of capital
Companies Act 2006 | Legislation

Requirements for payment out of capital

713  Requirements for payment out of capital

(1)     A payment out of capital by a private company for the redemption or purchase of its own shares is not lawful unless the requirements of the following sections are met—

section 714 (directors' statement and auditor's report);

section 716 (approval by special resolution);

section 719 (public notice of proposed payment);

section 720 (directors' statement and auditor's report to be available for inspection).

(2)     This is subject [to section 720A and] to any order of the court under section 721 (power of court to extend period for compliance on application by

 

Popular documents

LEXISNEXIS

Proprietary estoppel

Proprietary estoppelThis Practice Note considers proprietary estoppel from a generic standpoint.For industry specific guidance on proprietary estoppel, see Practice Notes:•Estoppel and property law•Mortgages by estoppelProprietary estoppel—what is it?Unlike the other forms of estoppel (see Practice

LEXISNEXIS

Unless orders

Unless ordersThis Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.This Practice Note provides guidance on

LEXISNEXIS

The Financial Assistance Scheme—what are the available benefits?

The Financial Assistance Scheme—what are the available benefits?THIS PRACTICE NOTE APPLIES TO SCHEMES ENTERING THE FINANCIAL ASSISTANCE SCHEME FROM 1 JANUARY 2012.Where a scheme, its employer(s) and individual members have satisfied the criteria for eligibility into the Financial Assistance Scheme

LEXISNEXIS

Medco

MedcoSTOP PRESS: A new RTA small claims protocol for whiplash claims comes into effect for accidents occurring on or after 31 May 2021. The small claims track limit for personal injury claims arising from an RTA is increased to £5000 in respect of general damages for pain, suffering and loss of