717 Resolution authorising payment: exercise of voting rights
717 Resolution authorising payment: exercise of voting rights
Companies Act 2006 | Legislation

(1)     This section applies to a resolution under section 716 (authority for payment out of capital for redemption or purchase of own shares).

(2)     Where the resolution is proposed as a written resolution, a member who holds shares to which the resolution relates is not an eligible member.

(3)     Where the resolution is proposed at a meeting of the company, it is not effective if—

(a)     any member of the company holding shares to which the resolution relates exercises the voting rights carried by any of those shares in voting on the resolution, and

(b)     the resolution would not have been passed if he had not done so.

(4)     For this purpose—