Companies Act 2014
Assignment or release of company’s right to purchase own shares
(a) in the case of section 1074 — an ordinary resolution of the PLC;
(b) in the case of section 1075 — a special resolution of the PLC,
before the release is entered into, and any such purported release by a PLC which has not been authorised in that manner shall be void.
(3) Subsections (5), (7) and (8) of section 105 shall apply to a resolution under subsection (2) and, for the purposes of this subsection, subsection (8) of section 105 shall have effect as if the references in it to the contract of purchase were references to the release concerned.