734 Accounting consequences of payment out of capital
Companies Act 2006 | Legislation

734  Accounting consequences of payment out of capital

(1)     This section applies where a payment out of capital is made in accordance with Chapter 5 [or section 692(1ZA)] (redemption or purchase of own shares by private company out of capital).

[(1A)     In relation to a payment under section 692(1ZA) references to the permissible capital payment are to the purchase price of the shares or (if less) the part of it met out of the payment under section 692(1ZA) and any proceeds of a fresh issue used to make the purchase.]

(2)     If the permissible capital payment is less than the nominal

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