642. Copy of contract or memorandum to be available for inspection

Past version: effective from 14/06/2015 - 13/06/2015
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(1) This section applies where a company has entered into—
(a) a contract approved under section 634 (authority for contract for off-market purchase), or
(b) a contract for a purchase authorised under section 641 (authorisation of market purchase).
(2) The company must keep available for inspection—
(a) a copy of the contract, or
(b) if the contract is not in writing, a written memorandum setting out its terms.
(3) The copy or memorandum must be kept available for inspection from the conclusion of the contract until the end of the period of ten years beginning with—
(a) the date on which the purchase of all the shares in pursuance of the contract is completed, or
(b) the date on which the contract otherwise determines.
(4) The copy or memorandum must be kept available for inspection—
(a) at the company's registered office, or
(b) at a place specified in rules made by the Board under section 996 (rules about where certain company records to be kept available for inspection).
(5) The company must give notice to the Registrar—
(a) of the place at which the copy or memorandum is kept available for inspection, and
(b) of any change in that place,
unless it has at all times been kept at the company's registered office, or unless it is a restricted scope company.
(6) Every copy or memorandum required to be kept under this section must be kept open to inspection without charge—
(a) by any member of the company, and
(b) in the case of a public company, by any other person.
(7) The provisions of this section apply to a variation of a contract as they apply to the original contract.