Podcast Location:
Download it here [file size: 21 MB]
Categories:
Corporate & Commercial Law
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to inform the listener of the process by which a private company can purchase its own shares and the authorisation required for such a purchase. It looks at the options the company has for funding this purchase and the additional requirements which must be satisfied if the company decides to make a payment out of capital. It then explains the steps which need to be taken when the purchase is complete and the tax implications of the purchase.

Outcomes:
After completing the course you will:
  • Understand how a private company goes about purchasing its own shares;
  • Know the authorisation required for the purchase and how such authorisation is obtained;
  • Know how the purchase can be funded;
  • Be familiar with the steps which need to be taken following the purchase;
  • Appreciate the tax implications of the purchase.
Level:
Beginner Difficulty: 1 of 5
Classification:
Legislative Updates
Sources and References:
  • Companies Act 1985 ;
  • Companies Act 2006 ;
  • Companies (Shares and Share Capital) Order 2009 ;
  • Kinlan v Crimmin [2006] EWHC 779 (Ch) ;
  • Dashfield v Davidson [2008] BCC 222 ;
  • re Duomatic Ltd [1969] 2 Ch 365.

This podcast examines the rules a private company must adhere to when it intends to buy back its own shares through an off-market purchase, pointing out the changes introduced to this area by the Companies Act 2006. These rules are contained in Part 18 of the 2006 Act, which took effect from 1st October 2009.

podcast added 06/05/2010

Podcast last reviewed: 2012-03-22

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