Company Acquisition of Own Shares

Company Acquisition of Own Shares

by Michael Wyatt


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This text provides a comprehensive analysis of the company law and taxation implications of own share acquisitions and redemptions by UK companies. All issues which arise out of this type of company share transactions are examined. These include: the rule against own share acquisitions, shares held by company's nominee, the issue of redeemable shares, powers and procedures for purchases and redemptions, financial assistance, tax strategy and clearances, wide range of precedents including contracts, resolutions, Articles, notices, and letters to the Inland Revenue. This edition brings practitioners up-to-date with all relevant developments in tax and company law and practice, including coverage of important cases such as Arab Bank plc versus Mercantile Holdings Ltd (1993) and a re-working of examples using current tax rates. The range of precedents in the previous edition has been expanded and includes precedents for implementing written resolution procedure introduced by the Companies Act 1989. The range of non-statutory material has also been expanded.

Product Details

ISBN-13: 9780752001548
Publisher: Sweet & Maxwell, Ltd.
Publication date: 09/04/1995
Series: Commercial Series
Pages: 256
Product dimensions: 6.00(w) x 1.25(h) x 9.00(d)

Table of Contents

The rule against own share acquistion
shares held by a company's nominee
the issue of redeemable shares
a company's power to purchase its own shares
the procedure for an own share purchase
the source of the payment for a purchase or redemption
own share purchase and the articles
own share purchase contracts
financial assistance
the "distribution" element in purchases and redemptions
purchases for the benefit of the trade
payments to assist in discharginhg a liability to inheritance tax
tax - returns, clearances and powers of information
purchases from a dealer in securities
taxes on income - other consequences
other fiscal consequences

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