Section 686

Redeemable shares in a limited company may not be redeemed unless they are fully paid. The terms of redemption of shares in a limited company may provide that the amount payable on redemption may, by agreement between the company and the holder of the shares, be paid on a date later than the redemption date. Unless redeemed in accordance with a provision authorised by subsection (2), the shares must be paid for on redemption.

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