764 Power to alter authorised minimum
764 Power to alter authorised minimum
Companies Act 2006 | Legislation

(1)     The Secretary of State may by order—

(a)     alter the sterling amount of the authorised minimum, and

(b)     make a corresponding alteration of the prescribed euro equivalent.

(2)     The amount of the prescribed euro equivalent shall be determined by applying an appropriate spot rate of exchange to the sterling amount and rounding to the nearest 100 euros.

(3)     An order under this section that increases the authorised minimum may—

(a)     require a public company having an allotted share capital of which the nominal value is less than the amount specified in the order to—

(i)     increase that value to not less than that amount, or

(ii)     re-register as a private company;