| Commentary

182 Contravention of statutory provisions

| Commentary

182 Contravention of statutory provisions

If a dividend is made in contravention of the statutory provisions and, at the time of the distribution, the member knows or has reasonable grounds for believing that this was the case, the member is liable to repay the dividend to the company or (in the case of a distribution made otherwise than in cash) to pay the company a sum equal to the value of the distribution1. This is without prejudice to any other obligation imposed on a member of a company to repay a distribution unlawfully made to him2.

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