10 September 2003
Treasury Shares: Proposed Changes to the Regulated Activities Order
In May 1998 and September 2001, the Department of Trade and Industry consulted on possible amendments to the Companies Act 1985 to liberalise the regulatory regime which applies to a company which buys back its own shares. Following these consultations, the Companies (Acquisition of Own Shares) (Treasury Shares) Regulations 2003 (“regulations”) were made. The regulations will come into force on 1 December 2003. The regulations will allow certain companies that buy back their own shares to hold them “in treasury” (“treasury shares”) for future disposal.
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Treasury Shares: Proposed Changes to the Regulated Activities Order (PDF file) (74Kb)
Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 3) Order 2003 (PDF file) (81Kb)
Responses
- Association of Corporate Treasurers' (PDF file) (51kb)
- ICSA International (PDF file) (86kb)
- Law Society Company Law Committee (PDF file) (85kb)