PART VShare Capital, its Increase, Maintenance and Reduction
CHAPTER VIIRedeemable Shares ; Purchase by a Company of its Own Shares
Supplementary
181Definitions for Chapter VII
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.