# Companies Act 2006, Section 691: Payment for purchase of own shares

Extent: E+W+S+N.I.

(1) A limited company may not purchase its own shares unless they are fully paid.
(2) Where a limited company purchases its own shares, the shares must be paid for on purchase.
(3) But subsection (2) does not apply in a case where a private limited company is purchasing shares for the purposes of or pursuant to an employees' share scheme.

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Source: https://www.legislation.gov.uk/ukpga/2006/46/section/691 (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-691
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.