765 Authorised minimum: application of initial requirement
765 Authorised minimum: application of initial requirement
Companies Act 2006 | Legislation

(1)     The initial requirement for a public company to have allotted share capital of a nominal value not less than the authorised minimum, that is—

(a)     the requirement in section 761(2) for the issue of a trading certificate, or

(b)     the requirement in section 91(1)(a) for re-registration as a public company,

must be met either by reference to allotted share capital denominated in sterling or by reference to allotted share capital denominated in euros (but not partly in one and partly in the other).

(2)     Whether the requirement is met is determined in the first case by reference to the sterling amount and in the second case by reference to the prescribed euro equivalent.