Own Share Purchase (Capital) – Minutes (ESS version of Special Resolution)

Own Share Purchase Out Of Capital – Minutes (ESS version of Special Resolution)

CO.SH.CA.19
These Own Share Purchase out of Capital – Minutes (ESS version of Special Resolution) are for a private company wishing to purchase its own shares using capital where the purchase is for the purposes of an employees’ share scheme.

The document contain minutes of the general meeting held in order to pass an ordinary resolution to approve the Contract to Purchase and a special resolution to approve the payment out of capital. The document should be read in conjunction with "Own Share Purchase out of Capital - Guidance Notes."

The ordinary resolution will not be required if the purchase of own shares is already authorised under section 693A of the Companies Act 2006 (authorisation of multiple buybacks for the purposes of an employees’ share scheme).

These Own Share Purchase out of Capital – Minutes (ESS version of Special Resolution) 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.

This version of the Minutes has been produced to reflect the April 2013 changes to the Companies Act 2006, including the move from special resolution to ordinary resolution for approval of the purchase, and the introduction of a simpler procedure for approving the use of capital where the purchase is for the purposes of an employees’ share scheme.

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