Section 708(1)

If on the purchase by a company of any of its own shares in accordance with this Part— the company must give notice of cancellation to the registrar, within the period of 28 days beginning with the date on which the shares are delivered to it, specifying the shares cancelled. section 724 (treasury shares) does not apply (so that the shares are treated as cancelled), or that section applies but the shares are cancelled forthwith (under section 729 (cancellation of treasury shares)),

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