Companies Act 2014
Court may order sale of shares | ||
772. (1) Where any shares are subject to the restrictions imposed under section 768 , the court, on the application of a person specified in subsection (2), may— | ||
(a) order that the shares shall be sold, subject to the approval of the court as to sale; and | ||
(b) also direct that the restrictions imposed under section 768 shall cease to apply to the shares. | ||
(2) The court may make the order under subsection (1) on the application of— | ||
(a) the Director; or | ||
(b) the company, if the company has given notice of the application to the Director. | ||
(3) Where the court has made an order that the shares shall be sold, on the application of a person specified in subsection (4) the court may make any further order relating to the sale or to the transfer of the shares as it sees fit. | ||
(4) The court may make a further order under subsection (3) on the application of— | ||
(a) the Director; | ||
(b) the company; | ||
(c) the person appointed under the order for sale to effect the sale; or | ||
(d) any person interested in the shares. |