Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Pre-emption definition

What does Pre-emption mean? In legal practice, pre-emption refers to a priority right to act before others—most commonly a right of first refusal over shares or land—and, in EU law, the displacement of national rules by EU measures. - Company law: “Pre-emption rights” give existing shareholders the first opportunity to take up new equity securities before any third party. In the UK, these rights are principally statutory (Companies Act 2006, ss 561–577) and can be disapplied or varied; market guidance from the Pre-Emption Group is widely observed. In Ireland, pre-emption on allotments is provided for in the Companies Act 2014 and frequently addressed in a...

Special resolution to disapply pre-emption rights for a specific allotment or sale of treasury shares (listed/AIM), conditional on authority to allot—Companies Act 2006 s.561

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Precedents

SPECIAL RESOLUTION

That, if [ insert reference to the resolution granting Authority to allot ] is approved, the Board is authorised to allot equity securities (as defined in the Companies Act 2006) for cash under that authority and/or to sell ordinary Shares held by the Company as treasury shares for cash, as though section 561 of the Companies Act 2006 did not apply to any such allotment or sale, such authority being limited to [ insert wording to limit the authority to the specified allotment of equity securities and/or sale of treasury shares ]. This authority will expire at the end of the Company’s next AGM (or, if earlier, at close of business on [ insert date (day, month and year) to be a date that is no later than fifteen months after the date of the current AGM ]); however, prior to expiry the Company may make offers and enter into agreements which would, or might, require equity securities to be allotted (and treasury shares to be sold) after the authority ends, and the Board may allot equity securities (and sell treasury shares) under any such offer or agreement as if the authority had not expired...

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Web page updated on 22/05/2026

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