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Maintenance of Capital in United Kingdom

Financial assistance for purchase of its own shares (ss677–683)

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  • General prohibition on public companies giving financial assistance
  • Breach of the prohibition
  • Exceptions
  • The principal or larger purpose exception
  • Territorial effect
  • Reduction of Company’s Capital under s642

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  • To extinguish or reduce liability on partly paid shares
  • To cancel paid-up share capital which has been lost or is not represented by available assets
  • To pay off part of the paid-up share capital out of surplus assets
  • How to effect a reduction
  • Redemption and buy-back of shares

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  • Redemption of shares
  • How is redemption effected?
  • Consequences of redemption
  • Purchase by a company of its own shares (buy-back)

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  • Methods of purchase
  • Consequences of buy-back
  • Maintenance of Company’s Capital: The share premium account

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  • Maintenance of Company’s Capital: The distributable profits rule
  • Maintenance of Company’s Capital: Bonus (capitalisation) issues
  • Regulating the adequacy of the consideration obtained for shares on allotment

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  • Non-cash consideration
  • Paying for the shares out of capital

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  • Procedure to be followed for payment out of capital
  • Buy-back of shares

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  • Purchase by a company of its own shares (buy-back)
  • Serious loss of capital by a public company: s656

    Maintenance of Capital. Introduction



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    (2016, 01). Maintenance of Capital lawi.org.uk Retrieved 07, 2021, from https://lawi.org.uk/maintenance-of-capital/

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    "Maintenance of Capital" lawi.org.uk. lawi.org.uk, 01 2016. Web. 07 2021. <https://lawi.org.uk/maintenance-of-capital/>

    "Maintenance of Capital" lawi.org.uk. 01, 2016. Accesed 07 2021. https://lawi.org.uk/maintenance-of-capital/

    Emily Rowling, 'Maintenance of Capital' (lawi.org.uk 2016) <https://lawi.org.uk/maintenance-of-capital/> accesed 2021 July 26

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    Schema Summary

    • Article Name: Maintenance of Capital
    • Author: Emily Rowling
    • Description: Financial assistance for purchase of its own shares (ss677–683) Refine your research by picking one of the following [...]

    This entry was last updated: January 19, 2016

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