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Companies Act 1985
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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 [F1section 829 of the Companies Act 2006]) 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.
Textual Amendments
F1Words in s. 181(a) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1), Sch. 1 para. 75 (with arts. 6, 11, 12)
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