846 Distributions in kind: treatment of unrealised profits
846 Distributions in kind: treatment of unrealised profits
Companies Act 2006 | Legislation

(1)     This section applies where—

(a)     a company makes a distribution consisting of or including, or treated as arising in consequence of, the sale, transfer or other disposition by the company of a non-cash asset, and

(b)     any part of the amount at which that asset is stated in the relevant accounts represents an unrealised profit.

(2)     That profit is treated as a realised profit—

(a)     for the purpose of determining the lawfulness of the distribution in accordance with this Part (whether before or after the distribution takes place), and

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