648. Notice to Registrar of cancellation of shares
Past version: effective from 14/06/2015 - 13/06/2015
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(1) If on the purchase by a company of any of its own shares in accordance with this Part—
(a) section 666 (treasury shares) does not apply (so that the shares are treated as cancelled), or
(b) that section applies but the shares are cancelled forthwith (under section 670 (cancellation of treasury shares)),
the company must give notice of cancellation to the Registrar within the period of 28 days beginning with the date on which the shares are delivered to it specifying the shares cancelled
(2) The notice must be accompanied by a statement of capital.
(3) The statement of capital must state with respect to the company's share capital immediately following the cancellation—
(a) the total number of shares of the company,
(b) the aggregate issue price of those shares,
(c) for each class of shares—
(i) prescribed particulars of the rights attached to the shares,
(ii) the total number of shares of that class, and
(iii) the aggregate issue price of shares of that class, and
(d) the amount paid up and the amount (if any) unpaid on each share.
(4) If default is made in complying with this section, a contravention of these Regulations is committed by—
(a) the company, and
(b) every officer of the company who is in default.
(5) A person who commits a contravention of this section is liable to a level 1 fine.
(6) This section does not apply to restricted scope companies.