Paragraph 73 Redeemable shares (ss. 684 to 689)I1

United Kingdom

(1)

Section 686(2) of the Companies Act 2006 (terms allowing for payment on date later than redemption date) applies—

(a)

to shares issued on or after 1st October 2009, and

(b)

to shares issued before that date where the terms of redemption have been amended on or after that date to allow for payment on a date later than the redemption date.

(2)

So much of section 159(3) of the 1985 Act or Article 169(3) of the 1986 Order as requires payment on redemption continues to apply in any other case.

Annotations

Commencement

I1: Sch. 2 para. 73 in force at 1.10.2009, see art. 1(2)

Notes on Schedule 2

Modifications

C1: Sch. 2 applied (with modifications) (31.12.2023) by The Resolution of Central Counterparties (Modified Application of Corporate Law and Consequential Amendments) Regulations 2023 (S.I. 2023/1313), regs. 1(2), 6