642 Reduction of capital supported by solvency statement
Companies Act 2006 | Legislation

Private companies: reduction of capital supported by solvency statement

642  Reduction of capital supported by solvency statement

(1)     A resolution for reducing share capital of a private company limited by shares is supported by a solvency statement if—

(a)     the directors of the company make a statement of the solvency of the company in accordance with section 643 (a “solvency statement”) not more than 15 days before the date on which the resolution is passed, and

(b)     the resolution and solvency statement are registered in accordance with section 644.

(2)     Where the resolution is proposed as a written resolution, a copy of

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