# Companies Act 2006, Section 686: Payment for redeemable shares


(1) Redeemable shares in a limited company may not be redeemed unless they are fully paid.
(2) The terms of redemption of shares in a limited company may provide that the amount payable on redemption may, by agreement between the company and the holder of the shares, be paid on a date later than the redemption date.
(3) Unless redeemed in accordance with a provision authorised by subsection (2), the shares must be paid for on redemption.

---
Source: https://www.legislation.gov.uk/ukpga/2006/46/section/686 (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-686
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.