Following lobbying from the AITC, the Department of Trade and Industry (DTI) has revised its proposa...
Following lobbying from the AITC, the Department of Trade and Industry (DTI) has revised its proposals for reforming company law to allow public listed companies quoted on a recognised stock exchange to hold shares 'in treasury.' Under the current draft, investment companies are excluded from the reform, but the new consultation specifically raises the question of whether this exclusion is appropriate. The basic impact of the reform will be to allow public companies that have bought back their own shares to hold them 'in treasury' for subsequent resale. Under the current rules shares...
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