800 Removal of restrictions
800 Removal of restrictions
Companies Act 2006 | Legislation

(1)     An application may be made to the court for an order directing that the shares shall cease to be subject to restrictions.

(2)     An application for an order under this section may be made by the company or by any person aggrieved.

(3)     The court must not make an order under this section unless—

(a)     it is satisfied that the relevant facts about the shares have been disclosed to the company and no unfair advantage has accrued to any person as a result of the earlier failure to make that disclosure, or

(b)     the shares are to be transferred for valuable consideration and the court approves the transfer.

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