620 Reconversion of stock into shares
Companies Act 2006 | Legislation

Reconversion of stock into shares

620  Reconversion of stock into shares

(1)     A limited company that has converted paid-up shares into stock (before the repeal by this Act of the power to do so) may reconvert that stock into paid-up shares of any nominal value.

(2)     A company may exercise the power conferred by this section only if its members have passed an ordinary resolution authorising it to do so.

(3)     A resolution under subsection (2) may authorise a company to exercise the power conferred by this section—

(a)     on more than one occasion;

(b)     at a specified time or in specified circumstances.

Popular documents