Section 705(2)

If this requirement is not met in relation to a contract, then— in a case within subsection (1)(a), no purchase by the company of its own shares in pursuance of that contract may be made under this Chapter; in a case within subsection (1)(b), no such purchase following the variation may be made under this Chapter; in a case within subsection (1)(c), the purported release is void.

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