641 Circumstances in which a company may reduce its share capital
641 Circumstances in which a company may reduce its share capital
Companies Act 2006 | Legislation

(1)     A limited company having a share capital may reduce its share capital—

(a)     in the case of a private company limited by shares, by special resolution supported by a solvency statement (see sections 642 to 644);

(b)     in any case, by special resolution confirmed by the court (see sections 645 to 651).

(2)     A company may not reduce its capital under subsection (1)(a) if as a result of the reduction there would no longer be any member of the company holding shares other than redeemable shares.