Companies Act 2006, Section 851 is up to date with all changes known to be in force on or before 09 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.
(1)Except as provided in this section, the provisions of this Part are without prejudice to any rule of law restricting the sums out of which, or the cases in which, a distribution may be made.
(2)For the purposes of any rule of law requiring distributions to be paid out of profits or restricting the return of capital to members—
(a)section 845 (distributions in kind: determination of amount) applies to determine the amount of any distribution or return of capital consisting of or including, or treated as arising in consequence of the sale, transfer or other disposition by a company of a non-cash asset; and
(b)section 846 (distributions in kind: treatment of unrealised profits) applies as it applies for the purposes of this Part.
(3)In this section references to distributions are to amounts regarded as distributions for the purposes of any such rule of law as is referred to in subsection (1).
Commencement Information
I1S. 851 wholly in force at 6.4.2008; s. 851 not in force at Royal Assent see s. 1300; s. 851 in force at 6.4.2008 by S.I. 2007/3495, art. 3(1)(k) (with savings in arts. 7, 12 and subject to transitional adaptations in Sch. 1 paras. 14-20 and with savings in Sch. 4 paras. 33-35)
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