Part 17 U.K. A company's share capital

Modifications etc. (not altering text)

C1 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

Chapter 5 U.K. Payment for shares

General rules U.K.

Valid from 01/10/2009

582 General rule as to means of payment U.K.

(1) Shares allotted by a company, and any premium on them, may be paid up in money or money's worth (including goodwill and know-how).

(2) This section does not prevent a company—

(a) from allotting bonus shares to its members, or

(b) from paying up, with sums available for the purpose, any amounts for the time being unpaid on any of its shares (whether on account of the nominal value of the shares or by way of premium).

(3) This section has effect subject to the following provisions of this Chapter (additional rules for public companies).