Companies Act 2014 section 772

Court may order sale of shares

Section 772 provides for the court to order the sale of shares that are subject to restrictions imposed under section 768, and to make further orders relating to such sales.

• Where shares are subject to restrictions under section 768, the court may order their sale (subject to its approval) and direct that the restrictions cease to apply.
• An application for a sale order may be made by the Corporate Enforcement Authority or by the company itself, provided the company has notified the Authority of the application.
• Once a sale order has been made, the court may make further orders relating to the sale or transfer of the shares as it sees fit.
• Applications for further orders may be made by the Authority, the company, the person appointed to carry out the sale, or any person with an interest in the shares.