C1Part 17A company's share capital
Annotations:
Modifications etc. (not altering text)
C2Chapter 5Payment for shares
Annotations:
Modifications etc. (not altering text)
C2
Pt. 17 Ch. 5 excluded (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 176(4) (with reg. 189)
General rules
580Shares not to be allotted at a discount
1
A company's shares must not be allotted at a discount.
2
If shares are allotted in contravention of this section, the allottee is liable to pay the company an amount equal to the amount of the discount, with interest at the appropriate rate.
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2