637. Variation of contract for off-market purchase

(1) A company may only agree to a variation of a contract authorised under section 634 (authority for off-market purchase) if the variation is approved in advance in accordance with this section.
(2) The terms of the variation must be authorised by a resolution of the company before it is agreed to.
(3) That authority may be varied, revoked or from time to time renewed by a resolution of the company.
(4) In the case of a public company a resolution conferring, varying or renewing authority must specify a date on which the authority is to expire, which must not be later than five years after the date on which the resolution is passed.
(5) A resolution conferring, varying, revoking or renewing authority under this section is subject to-
(a) section 638 (exercise of voting rights), and
(b) section 639 (disclosure of details of variation).