# Companies Act 2006, Section 718: Resolution authorising payment: disclosure of directors' statement and auditor's report


(1) This section applies to a resolution under section 716 (resolution authorising payment out of capital for redemption or purchase of own shares).
(2) A copy of the directors' statement and auditor's report under section 714 must be made available to members—
(a) in the case of a written resolution, by being sent or submitted to every eligible member at or before the time at which the proposed resolution is sent or submitted to him;
(b) in the case of a resolution at a meeting, by being made available for inspection by members of the company at the meeting.
(3) The resolution is ineffective if this requirement is not complied with.

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Source: https://www.legislation.gov.uk/ukpga/2006/46/section/718 (the official version)
Page: https://openlegislation.uk/companies-act-2006/section-718
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.