Part 17A company's share capital
Chapter 8Alteration of share capital
Reconversion of stock into shares
620Reconversion of stock into shares
(1)
A limited company that has converted paid-up shares into stock (before the repeal by this Act of the power to do so) may reconvert that stock into paid-up shares of any nominal value.
(2)
A company may exercise the power conferred by this section only if its members have passed an ordinary resolution authorising it to do so.
(3)
A resolution under subsection (2) may authorise a company to exercise the power conferred by this section—
(a)
on more than one occasion;
(b)
at a specified time or in specified circumstances.