Companies Act 1985

181 Definitions for Chapter VII.E+W+S

In this Chapter—

(a)distributable profits”, in relation to the making of any payment by a company, means those profits out of which it could lawfully make a distribution (within the meaning given by section 263(2)) equal in value to the payment, and

(b)permissible capital payment” means the payment permitted by section 171;

and references to payment out of capital are to be construed in accordance with section 171.