| Commentary

194 Effect of reduction of capital

| Commentary

194 Effect of reduction of capital

On a reduction of share capital, a past or present member of the company is not liable in respect of any share to any call or contribution exceeding in amount the difference (if any) between the nominal amount of the share as notified to the registrar in the statement of capital delivered under the Companies Act 2006 Sections 644, 649, 1028A or 1032A or the Small Business, Enterprise and Employment Act 2015 Schedule 4 Paragraph 7, and the amount paid on the share, or the reduced amount (if any) deemed to have been paid

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