Source: http://www.legislation.gov.uk/ukpga/2006/46/part/18/chapter/7
Timestamp: 2017-12-11 07:57:33
Document Index: 246897174

Matched Legal Cases: ['art 18', 'art 18', 'art 18', 'art. 3', 'art. 5', 'art. 3', 'art. 18']

Companies Act 2006, Chapter 7 is up to date with all changes known to be in force on or before 11 December 2017. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Chapter 7E+W+S+N.I.Supplementary provisions
(1)This section applies where a payment out of capital is made in accordance with Chapter 5 (redemption or purchase of own shares by private company out of capital) [F2or section 692(1ZA)].
[F3(1A)In relation to a payment under section 692(1ZA) references to the permissible capital payment are to the purchase price of the shares or (if less) the part of it met out of the payment under section 692(1ZA) and any proceeds of a fresh issue used to make the purchase.]
(4)Where the proceeds of a fresh issue are applied by the company in making a redemption or purchase of its own shares in addition to a payment out of capital under [F4Chapter 5], the references in subsections (2) and (3) to the permissible capital payment are to be read as referring to the aggregate of that payment and those proceeds.
F2Words in s. 734(1) inserted (6.4.2015) by The Companies Act 2006 (Amendment of Part 18) Regulations 2015 (S.I. 2015/532), regs. 1(2), 9(2)
F3S. 734(1A) inserted (6.4.2015) by The Companies Act 2006 (Amendment of Part 18) Regulations 2015 (S.I. 2015/532), regs. 1(2), 9(3)
F4Words in s. 734(4) substituted (6.4.2015) by The Companies Act 2006 (Amendment of Part 18) Regulations 2015 (S.I. 2015/532), regs. 1(2), 9(4)
735Effect of company's failure to redeem or purchaseE+W+S+N.I.
736Meaning of “distributable profits”E+W+S+N.I.
737General power to make further provision by regulationsE+W+S+N.I.
I2S. 737 wholly in force at 1.10.2009; s. 737 not in force at Royal Assent, see s. 1300; s. 737 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 737 otherwise in force at 1.10.2009 by S.I. 2008/2860, art. 3(l) (with arts. 5, 7, 8, Sch. 2) (as amended by S.I. 2009/1802, art. 18)