The Companies Act 2006 (Amendment of Part 17) Regulations 2015 were made on 3rd March and came into force on 4 March: see here or here (pdf). In general terms, the Regulations amend section 641 ("Circumstances in which a company may reduce its share capital") of the Companies Act 2006 in order to restrict the ability of companies to effect a takeover through so-called cancellation schemes of arrangement. Further information is available in the accompanying explanatory memorandum: see here (pdf).
Friday, 6 March 2015
UK: The Companies Act 2006 (Amendment of Part 17) Regulations 2015
The Companies Act 2006 (Amendment of Part 17) Regulations 2015 were made on 3rd March and came into force on 4 March: see here or here (pdf). In general terms, the Regulations amend section 641 ("Circumstances in which a company may reduce its share capital") of the Companies Act 2006 in order to restrict the ability of companies to effect a takeover through so-called cancellation schemes of arrangement. Further information is available in the accompanying explanatory memorandum: see here (pdf).
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