Section 562 Communication of pre-emption offers to shareholdersI1
United Kingdom
This section has effect as to the manner in which offers required by section 561 are to be made to holders of a company's shares.
The offer may be made in hard copy or electronic form.
If the holder—
has no registered address in F1the United Kingdom or an EEA State and has not given to the company an address in the United Kingdom or an EEA State for the service of notices on him, or
is the holder of a share warrant,
the offer may be made by causing it, or a notice specifying where a copy of it can be obtained or inspected, to be published in the Gazette.
The offer must state a period during which it may be accepted and the offer shall not be withdrawn before the end of that period.
The period must be a period of at least F214 days beginning—
in the case of an offer made in hard copy form, with the date on which the offer is sent or supplied;
in the case of an offer made in electronic form, with the date on which the offer is sent;
in the case of an offer made by publication in the Gazette, with the date of publication.
The Secretary of State may by regulations made by statutory instrument—
reduce the period specified in subsection (5) (but not to less than 14 days), or
increase that period.
A statutory instrument containing regulations made under subsection (6) is subject to affirmative resolution procedure.
Annotations
Textual amendments
- F1
Words in s. 562(3)(a) substituted (31.12.2020) by The Companies, Limited Liability Partnerships and Partnerships (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/348), reg. 2, Sch. 1 para. 9; 2020 c. 1, Sch. 5 para. 1(1)
- F2
Words in s. 562(5) substituted (1.10.2009) by The Companies (Share Capital and Acquisition by Company of its Own Shares) Regulations 2009 (S.I. 2009/2022), reg. 2
Commencement
- I1
S. 562 wholly in force at 1.10.2009; s. 562 not in force at Royal Assent, see s. 1300; s. 562 in force for specified purposes at 20.1.2007 by S.I. 2006/3428, art. 3(3) (subject to art. 5, Sch. 1 and with arts. 6, 8, Sch. 5); s. 562 otherwise in force at 1.10.2009 by S.I. 2008/2860, art. 3(k) (with arts. 5, 7, 8, Sch. 2) (as amended by S.I. 2009/1802, art. 18)
Notes on Part 17
Modifications
- C1
Pts. 1-39 modified (31.12.2020) by Regulation (EC) No. 2157/2001, Art. AAA1(3) (as inserted by The European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2018 (S.I. 2018/1298), regs. 1, 97 (with regs. 140-145) (as amended by S.I. 2020/523, regs. 1(2), 5(a)-(f)); 2020 c. 1, Sch. 5 para. 1(1))
- C2
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
Notes on Chapter 3
Modifications
- C1
Pt. 17 Ch. 3 excluded (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 176(4) (with reg. 189)