836 Justification of distribution by reference to relevant accounts
836 Justification of distribution by reference to relevant accounts
Companies Act 2006 | Legislation

(1)     Whether a distribution may be made by a company without contravening this Part is determined by reference to the following items as stated in the relevant accounts—

(a)     profits, losses, assets and liabilities;

(b)     provisions of the following kinds—

(i)     where the relevant accounts are Companies Act accounts, provisions of a kind specified for the purposes of this subsection by regulations under section 396;

(ii)     where the relevant accounts are IAS accounts, provisions of any kind;

(c)     share capital and reserves (including undistributable reserves).

(2)     The relevant accounts are the company's last annual accounts, except that—

(a)     where the distribution would

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