Companies Act 2006 (c. 46)

Part 17 A company’s share capital

Chapter 5 Payment for shares

General rules

580 Shares not to be allotted at a discount

(1) A company’s shares must not be allotted at a discount.

(2) If shares are allotted in contravention of this section, the allottee is liable to pay the company an amount equal to the amount of the discount, with interest at the appropriate rate.