Section 718

This section applies to a resolution under section 716 (resolution authorising payment out of capital for redemption or purchase of own shares). A copy of the directors' statement and auditor's report under section 714 must be made available to members— in the case of a written resolution, by being sent or submitted to every eligible member at or before the time at which the proposed resolution is sent or submitted to him; in the case of a resolution at a meeting, by being made available for inspection by members of the company at the meeting. The resolution is ineffective if this requirement is not complied with.

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