(1) An investment company may make a distribution out of its accumulated, realised revenue profits if the following conditions are met.
(2) It may make such a distribution only if, and to the extent that, its accumulated, realised revenue profits, so far as not previously utilised by a distribution or capitalisation, exceed its accumulated revenue losses (whether realised or unrealised), so far as not previously written off in a reduction or reorganisation of capital duly made.
(3) It may make such a distribution only—
(a) if the amount of its assets is at least equal to one and a half times the aggregate of its liabilities to creditors, and
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