Redemption Out Of Capital – Written Resolution
This Redemption Out of Capital – Written Resolution is the written resolution that must be sent to the shareholders so that they can approve the payment out of capital for the redemption by a private company of redeemable shares. Please see “Redemption Out of Capital – Guidance Notes” for more information.
Passing a special resolution by way of written resolution is an alternative to passing the resolution at general meeting. Template general meeting minutes can also be found in this sub-folder.
This Redemption Out of Capital – Written Resolution is 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 Date.
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