853 Minor definitions
853 Minor definitions
Companies Act 2006 | Legislation

(1)     The following provisions apply for the purposes of this Part.

(2)     References to profit or losses of any description—

(a)     are to profits or losses of that description made at any time, and

(b)     except where the context otherwise requires, are to profits or losses of a revenue or capital character.

(3)     “Capitalisation”, in relation to a company's profits, means any of the following operations (whenever carried out)—

(a)     applying the profits in wholly or partly paying up unissued shares in the company to be allotted to members of the company as fully or partly paid bonus shares, or

(b)     transferring the profits to capital redemption reserve.

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