Section 797(1)

The effect of an order under section 794 that shares are subject to restrictions is as follows— any transfer of the shares is void; no voting rights are exercisable in respect of the shares; no further shares may be issued in right of the shares or in pursuance of an offer made to their holder; except in a liquidation, no payment may be made of sums due from the company on the shares, whether in respect of capital or otherwise.

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