# Companies Act 1985, Section 165: Authority for contingent purchase contract.

Extent: E+W+S

(1) A contingent purchase contract is a contract entered into by a company and relating to any of its shares—
(a) which does not amount to a contract to purchase those shares, but
(b) under which the company may (subject to any conditions) become entitled or obliged to purchase those shares.
(2) A company may only make a purchase of its own shares in pursuance of a contingent purchase contract if the contract is approved in advance by a special resolution of the company before the contract is entered into; and subsections (3) to (7) of section 164 apply to the contract and its terms.

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Source: https://www.legislation.gov.uk/ukpga/1985/6/section/165 (the official version)
Page: https://openlegislation.uk/companies-act-1985/section-165
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.