# Companies Act 2006, Section 688: Redeemed shares treated as cancelled


Where shares in a limited company are redeemed—
(a) the shares are treated as cancelled, and
(b) the amount of the company's issued share capital is diminished accordingly by the nominal value of the shares redeemed.

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Source: https://www.legislation.gov.uk/ukpga/2006/46/section/688 (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-688
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.