Section 551(3)

Authorisation must— state the maximum amount of shares that may be allotted under it, and specify the date on which it will expire, which must be not more than five years from— in the case of authorisation contained in the company's articles at the time of its original incorporation, the date of that incorporation; in any other case, the date on which the resolution is passed by virtue of which the authorisation is given.

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Source: legislation.gov.uk · retrieved 2026-09-04