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Open date: 30 Oct 2012
Closing date: 16 Nov 2012
The Nuttall Review on Employee Ownership recommended (Recommendation V) that the Government should review and consult on changes to deregulate the conditions under which companies can: authorise share buy backs; finance share buy backs; and hold shares ‘in treasury’.
This consultation seeks views on deregulatory changes to the conditions under which companies can authorise and finance the repurchase of its own shares, and hold these shares once repurchased. The regulation of share buy backs is governed by the Companies Act 2006. Changes to these regulations, such as those proposed in this consultation would require changes via secondary legislation. The draft regulations attached below indicate how the government would implement these changes. Through this consultation we would also like to understand the implications for companies, employees, and other shareholders. In particular we wish to ensure there are no unintended consequences.
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As part of government’s Red Tape Challenge, businesses and the public are invited to identify ways that ineffective, burdensome or unnecessary regulation affects growth in the business-to-business services sector.
Have your say at the Red Tape Challenge website