the department for trade and industry releases final draft regulations to put to parliament
Investment trusts are to be allowed to hold their own shares in treasury under company regulations set to go before Parliament in the spring. The Department for Trade and Industry has released final draft regulations allowing investment companies, subject to shareholder approval, to hold onto shares they have bought back and sell them back into the market at a later date. Currently, investment companies buying back their shares must cancel the stock. Previous drafts of the regulations prohibited investment companies from holding treasury shares but this has been removed from the final ...
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