C1Part 17A company's share capital

Annotations:
Modifications etc. (not altering text)

Chapter 8Alteration of share capital

Redenomination of share capital

I1625Notice to registrar of redenomination

1

If a limited company having a share capital redenominates any of its share capital, it must within one month after doing so give notice to the registrar, specifying the shares redenominated.

2

The notice must—

a

state the date on which the resolution was passed, and

b

be accompanied by a statement of capital.

3

The statement of capital must state with respect to the company's share capital as redenominated by the resolution—

a

the total number of shares of the company,

b

the aggregate nominal value of those shares,

c

for each class of shares—

i

prescribed particulars of the rights attached to the shares,

ii

the total number of shares of that class, and

iii

the aggregate nominal value of shares of that class, and

d

the amount paid up and the amount (if any) unpaid on each share (whether on account of the nominal value of the share or by way of premium).

4

If default is made in complying with this section, an offence is committed by—

a

the company, and

b

every officer of the company who is in default.

5

A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.