Financial assistance: Companies Act 2006

Resource type: Practice note

Status: Maintained

Jurisdiction: United Kingdom

A note outlining the changes to the law on the financial assistance under the Companies Act 2006. For more detailed information and analysis, see Practice note, Financial assistance: 1 October 2009.

The prohibition on financial assistance by private companies for the acquisition of shares in themselves or other private companies (including the whitewash procedure) was repealed from 1 October 2008. Chapter 2 of Part 18 of the 2006 Act (financial assistance for purchase of own shares) preserves the financial prohibition for public companies and has been in force since 1 October 2009.

PLC Corporate

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  • Resource ID: 2-202-4475
  • Products:  PLC UK Corporate, PLC UK Finance, PLC UK Law Department, PLC UK Public Sector
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
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