# Companies Act 2006, Section 697: Variation of contract for off-market purchase

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

(1) A company may only agree to a variation of a contract authorised under section 694 (authority for off-market purchase) if the variation is approved in advance in accordance with this section.
(2) The terms of the variation must be authorised by a . . . resolution of the company before it is agreed to.
(3) That authority may be varied, revoked or from time to time renewed by a . . . resolution of the company.
(4) In the case of a public company a resolution conferring, varying or renewing authority must specify a date on which the authority is to expire, which must not be later than five years after the date on which the resolution is passed.
(5) A resolution conferring, varying, revoking or renewing authority under this section is subject to—
section 698 (exercise of voting rights), and
section 699 (disclosure of details of variation).

---
Source: https://www.legislation.gov.uk/ukpga/2006/46/section/697 (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-697
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.