587 Public companies: payment by long-term undertaking
587 Public companies: payment by long-term undertaking
Companies Act 2006 | Legislation

(1)     A public company must not allot shares as fully or partly paid up (as to their nominal value or any premium on them) otherwise than in cash if the consideration for the allotment is or includes an undertaking which is to be, or may be, performed more than five years after the date of the allotment.

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