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Market purchase
Practical Law UK Glossary 2-200-1394 (Approx. 4 pages)
Glossary
Market purchase
A company's purchase of its own shares on a recognised investment exchange (other than an overseas exchange) which is not an off-market purchase (section 693(4), Companies Act 2006).
The requirements for the approval of a market share buyback are set out in section 701 of the Companies Act 2006.
For more information on share buybacks, see Practice note, Share buybacks: overview and for a list of the matters that should be taken into account when carrying out a market share buyback, see Checklist 1: market purchases.