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ARTICLE · 20 MARCH 2013

Nuttall Review - Implementation Of Share Buy Back Changes

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The government has announced changes to the statutory regime for share buy backs as recommended in Graeme Nuttall's report to the Government, the Nuttall Review.

United KingdomCorporate/Commercial Law
Graeme Nuttall
Graeme Nuttall
Laurence Lumb
Laurence Lumb

Nuttall Review - Implementation Of Share Buy Back Changes

The government has announced changes to the statutory regime for share buy backs as recommended in Graeme Nuttall's report to the Government – the Nuttall Review. These changes are to encourage employee share ownership in private companies through improving the operation of internal share markets. The changes do, however, go wider than this.

The changes are significantly wider than the original government proposals consulted upon in October 2012. Our article "The Nuttall Review: simplifying share buy backs to encourage employee ownership" (which first appeared in Tax Adviser on 1 February 2013) discussed those proposals, and suggested further steps that would benefit employee owned companies undertaking share buy backs. These suggestions are now included in a package of six specific measures to facilitate the buy back process:

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