Own Share Purchase Out Of Capital - Written Resolutions
These Own Share Purchase out of Capital - Written Resolutions are the
written resolutions that must be sent to the shareholders so that they can
approve the Contract to Purchase required for the purchase by a private
company of its own shares and the payment for those shares out of capital.
Please see "Own Share Purchase out of Capital - Guidance Notes" for more
These Own Share Purchase out of Capital - Written Resolutions are in open
format. The document contains fields which must be completed. It also
contains some wording options in square brackets which must be adjusted to
suit your purposes.
The Circulation Date will usually be the date of the board meeting
approving the circulation of the written resolution but it can be a later
date. The date when the written resolution lapses would usually be 28 days
after the Circulation Date but since the Companies Act 2006 specifies that
the special resolution authorising the payment out of capital must be
passed within 7 days of the date of the Directors' Statement and the
auditor's report, the lapse date should be 7 days from the Circulation
These Written Resolutions have been updated to reflect the April 2013
changes to the Companies Act 2006, notably the move from special resolution
to ordinary resolution for approval of the purchase.
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