C1Part 17A company's share capital

Annotations:
Modifications etc. (not altering text)

Chapter 11Miscellaneous and supplementary provisions

I1657General power to make further provision by regulations

1

The Secretary of State may by regulations modify the following provisions of this Part—

  • sections 552 and 553 (prohibited commissions, discounts and allowances),

  • Chapter 5 (payment for shares),

  • Chapter 6 (public companies: independent valuation of non-cash consideration),

  • Chapter 7 (share premiums),

  • sections 622 to 628 (redenomination of share capital),

  • Chapter 10 (reduction of capital), and

  • section 656 (public companies: duty of directors to call meeting on serious loss of capital).

2

The regulations may—

a

amend or repeal any of those provisions, or

b

make such other provision as appears to the Secretary of State appropriate in place of any of those provisions.

3

Regulations under this section may make consequential amendments or repeals in other provisions of this Act, or in other enactments.

4

Regulations under this section are subject to affirmative resolution procedure.