The ACT has been a long term advocate for the introduction of treasury shares in the UK and was active in the DTI consultation process leading up to the issue of The Companies (Acquisition of Own Shares)(Treasury Shares) Regulations 2003.
The ACT has also worked closely with the Association of British Insurers (ABI) and the National Association of Pension Funds (NAPF) in discussing the approach to pre-emption rights under the proposed regime.
The ACT’s consultation comments on CP182 refer to the potential uncertainty
surrounding required disclosures in buyback circulars.
