# The Companies (Northern Ireland) Order 1986 (revoked), Article 177: Assignment or release of company's right to purchase own shares

Extent: N.I.

(1) The rights of a company under a contract approved under Article 174 or 175, or under a contract for a purchase authorised under Article 176, are not capable of being assigned.
(2) An agreement by a company to release its rights under a contract approved under Article 174 or 175 is void unless the terms of the release agreement are approved in advance by a special resolution of the company before the agreement is entered into; and paragraphs (3) to (7) of Article 174 apply to approval for a proposed release agreement as to authority for a proposed variation of an existing contract.

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Source: https://www.legislation.gov.uk/nisi/1986/1032/article/177 (the official version)
Page: https://openlegislation.uk/companies-northern-ireland-order-1986-revoked/article-177
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.