830 Distributions to be made only out of profits available for the purpose
830 Distributions to be made only out of profits available for the purpose
Companies Act 2006 | Legislation

(1)     A company may only make a distribution out of profits available for the purpose.

(2)     A company's profits available for distribution are its accumulated, realised profits, so far as not previously utilised by distribution or capitalisation, less its accumulated, realised losses, so far as not previously written off in a reduction or reorganisation of capital duly made.

(3)     Subsection (2) has effect subject to sections 832[, 833A] and 835 (investment companies [and Solvency 2 insurance companies].

Popular documents

LEXISNEXIS

Insurance conduct regulation—COBS and ICOBS

The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these

LEXISNEXIS

Declaratory relief of planning decisions

A declaratory judgment is a judgment identifying the rights, duties or obligations of one or more parties in a dispute. It is legally binding, but does not order any action by a party. A court may issue it alone or in conjunction with some other relief such as an injunction and can be granted on an

LEXISNEXIS

Forum non conveniens—scope and application

This Practice Note considers the doctrine of forum non conveniens, also referred to as the appropriate forum or the proper place for a dispute to be determined. This doctrine is of relevance when determining whether the courts of England and Wales have jurisdiction to hear a dispute and is applied

LEXISNEXIS

Recklessness in criminal cases

What is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House of Lords decision in Re G