Section 568(1)

The provisions of this section apply where, in a case in which section 561 (existing shareholders' right of pre-emption) would otherwise apply— a company's articles contain provision (“pre-emption provision”) prohibiting the company from allotting ordinary shares of a particular class unless it has complied with the condition that it makes such an offer as is described in section 561(1) to each person who holds ordinary shares of that class, and in accordance with that provision— the company makes an offer to allot shares to such a holder, and he or anyone in whose favour he has renounced his right to their allotment accepts the offer.

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