Section 713(1)

A payment out of capital by a private company for the redemption or purchase of its own shares is not lawful unless the requirements of the following sections are met— section 714 (directors' statement and auditor's report); section 716 (approval by special resolution); section 719 (public notice of proposed payment); section 720 (directors' statement and auditor's report to be available for inspection).

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