Part V

Share Capital, its Increase, Maintenance and Reduction
Chapter VII

Redeemable Shares; Purchase by a Company of its Own Shares

Supplementary

Definitions for Chapter VII.
181
In this Chapter—
a
“distributable profits”, in relation to the making of any payment by a company, means those profits out of which it could lawfully make a distribution (within the meaning given by section 829 of the Companies Act 2006) equal in value to the payment, and
b
“permissible capital payment” means the payment permitted by section 171;
and references to payment out of capital are to be construed in accordance with section 171.
Words in s. 181(a) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1), Sch. 1 para. 75 (with arts. 6, 11, 12)
Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802, art. 18, Sch.))