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Changes over time for: Section 654
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Status:
Point in time view as at 03/10/2022.
Changes to legislation:
Companies Act 2006, Section 654 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes to Legislation
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654Treatment of reserve arising from reduction of capitalU.K.
This section has no associated Explanatory Notes
(1)A reserve arising from the reduction of a company's share capital is not distributable, subject to any provision made by order under this section.
(2)The Secretary of State may by order specify cases in which—
(a)the prohibition in subsection (1) does not apply, and
(b)the reserve is to be treated for the purposes of Part 23 (distributions) as a realised profit.
(3)An order under this section is subject to affirmative resolution procedure.
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