| Commentary

211.2 Directors’ statement and auditor’s report

| Commentary

211.2 Directors’ statement and auditor’s report

To take advantage of the provisions relating to a payment out of capital, the directors must make a statement in the prescribed form, containing such information with respect to the nature of the company’s business as may be prescribed1. The statement must specify the amount of the permissible capital payment for the shares in question, and confirm that each of the directors has formed the opinion that:

  1. 211.2.1

        as regards the company’s initial situation immediately following the date on which the payment out of capital is proposed to be made, there will be no

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