The Companies Act 2006 Act makes a number of significant changes to the law on shares and share capital while also retaining many of the provisions of the old law.
Some changes are simplifications to the law for private companies, notably on financial assistance, share capital reduction and company buy-back of own shares, as well as the abolition of authorised capital. The whole structure is informed and constrained by the provisions of the Company Law Directives, which are principally applicable to public companies.
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