Section 723 | Time when payment out of capital to be made or shares to be surrendered

(1)The payment out of capital , if made in accordance with a resolution under section 716 must be made—^F1

(a)no earlier than five weeks after the date on which the resolution under section 716 is passed, and

(b)no more than seven weeks after that date.

(1A)Shares to be purchased in accordance with a resolution under section 720A must be surrendered—^F2

(a)no earlier than five weeks after the date on which the resolution under section 720A is passed, and^F2

(b)no later than seven weeks after that date.^F2

(2)This is subject to any exercise of the court's powers under section 721(5) (power to alter or extend time where resolution confirmed after objection).