797 Consequences of order imposing restrictions
Companies Act 2006 | Legislation

Orders imposing restrictions on shares

797  Consequences of order imposing restrictions

(1)     The effect of an order under section 794 that shares are subject to restrictions is as follows—

(a)     any transfer of the shares is void;

(b)     no voting rights are exercisable in respect of the shares;

(c)     no further shares may be issued in right of the shares or in pursuance of an offer made to their holder;

(d)     except in a liquidation, no payment may be made of sums due from the company on the shares, whether in respect of capital or otherwise.

(2)     Where shares are subject to the restriction

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