The Association of British Insurers has published amended guidelines on directors’ powers to allot share capital and disapply shareholders’ pre-emption rights and on own share purchases. The guidelines have been updated to reflect the provisions of the Companies Act 2006 and remove references to authorised share capital and the Companies Act 1985. There are no substantive changes from the previous versions.
The revised allotment and pre-emption guidelines are available here. The revised buyback guidelines are available here.
