681 Unconditional exceptions
Companies Act 2006 | Legislation

Exceptions from prohibition

681  Unconditional exceptions

(1)     Neither section 678 nor section 679 prohibits a transaction to which this section applies.

(2)     Those transactions are—

(a)     a distribution of the company's assets by way of—

(i)     dividend lawfully made, or

(ii)     distribution in the course of a company's winding up;

(b)     an allotment of bonus shares;

(c)     a reduction of capital under Chapter 10 of Part 17;

(d)     a redemption of shares under Chapter 3 or a purchase of shares under Chapter 4 of this Part;

(e)     anything done in pursuance of an order of the court under Part 26 [or 26A] (order sanctioning compromise or

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