Company Acquisition of Own Shares, 6th edition

Company Law

Company Acquisition of Own Shares, 6th edition

Edited by Nigel Dougherty · Anne Fairpo
LexisNexis U.K. March 2013

Specifications

ISBN-13
9781846612459
Publisher
LexisNexis U.K.
Publication
March 2013
Format
Hardback
Jurisdiction
U.K. ? Countri(es) for reference only

Details

This book provides the practitioner with a comprehensive analysis of the law relating to own share acquisition


This book provides the practitioner with a comprehensive analysis of the law relating to own share acquisition – both the company law and the tax law. It outlines the procedures that need to be followed, what the tax implications are, and how tax savings and other benefits can be achieved.  It also includes precedents for the main types of transaction, which the practitioner may require to implement.
This new edition has been completed revised and updated to take into account new developments including:
  • The general prohibition against own share acquisitions and the various exceptions to that rule through, in particular, own share purchases and the use of redeemable shares
  • The key changes made by the Companies Act 2006, including the regime for own share purchases and the redemption of shares, the introduction of "self-help" reductions and reform of the law on the provision of financial assistance, the procedure for an own share acquisition and its financing, the consequences of infringement, and also the acquisition and holding of treasury shares.
  • The tax consequences of the various types of own share acquisitions
  • Key tax and commercial considerations
  • Precedents of key documents

Table of Contents

  • The Rule against Own Share Acquisitions 
  • Shares Held by a Company’s Nominees 
  • 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 
  • Treasury Shares 
  • Own Share Purchases and the Articles 
  • Own Share Purchase Contracts
  • Financial Assistance 
  • Tax: The ‘Distribution’ Element 
  • Purchases for the Benefit of the Trade 
  • Payments to Assist in Discharging a Liability to Inheritance Tax 
  • Section 219: Returns, Clearances and Powers of Information 
  • Purchases from a Dealer in Securities 
  • Taxes on Income: Other Consequences of Purchases and Redemptions 
  • Other Fiscal Consequences 
  • Strategy
  • Appendices 

About the Author

Nigel Dougherty, Barrister, Erskine Chambers
Anne Fairpo, Barrister, 13 Old Square

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