Section 692(3)

If the shares to be purchased were issued at a premium, any premium payable on their purchase by the company may be paid out of the proceeds of a fresh issue of shares made for the purpose of financing the purchase, up to an amount equal to— whichever is the less. the aggregate of the premiums received by the company on the issue of the shares purchased, or the current amount of the company's share premium account (including any sum transferred to that account in respect of premiums on the new shares),

← 2 · All articles · 4 →

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