C1Part 17A company's share capital

Annotations:
Modifications etc. (not altering text)

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.