# Companies Clauses Act 1863, Section 16: Unissued shares and stock may be cancelled.


If, after having created new shares or new stock, the company determines not to issue the whole of the new shares or new stock, they may cancel the unissued new shares or new stock.

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Source: https://www.legislation.gov.uk/ukpga/Vict/26-27/118/section/16 (the official version)
Page: https://openlegislation.uk/companies-clauses-act-1863/section-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.