# The Companies (Northern Ireland) Order 1986 (revoked), Article 175: Authority for contingent purchase contract

Extent: N.I.

(1) A contingent purchase contract is a contract entered into by a company and relating to any of its shares—
(a) which does not amount to a contract to purchase those shares, but
(b) under which the company may (subject to any conditions) become entitled or obliged to purchase those shares.
(2) A company may only make a purchase of its own shares in pursuance of a contingent purchase contract if the contract is approved in advance by a special resolution of the company before the contract is entered into; and paragraphs (3) to (7) of Article 174 apply to the contract and its terms.

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Source: https://www.legislation.gov.uk/nisi/1986/1032/article/175 (the official version)
Page: https://openlegislation.uk/companies-northern-ireland-order-1986-revoked/article-175
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.