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 10 U.K. Reduction of share capital

Valid from 01/10/2009

Public company reducing capital below authorised minimum U.K.

650 Public company reducing capital below authorised minimum U.K.

(1) This section applies where the court makes an order confirming a reduction of a public company's capital that has the effect of bringing the nominal value of its allotted share capital below the authorised minimum.

(2) The registrar must not register the order unless either—

(a) the court so directs, or

(b) the company is first re-registered as a private company.

(3) Section 651 provides an expedited procedure for re-registration in these circumstances.