{
  "url": "https://openlegislation.uk/companies-act-1985/schedule-4/paragraph-72",
  "json_url": "https://openlegislation.uk/companies-act-1985/schedule-4/paragraph-72.json",
  "legislation": "ukpga/1985/6",
  "legislation_title": "Companies Act 1985",
  "legislation_url": "https://openlegislation.uk/companies-act-1985",
  "path": "schedule/4/paragraph/72",
  "kind": "paragraph",
  "number": "72",
  "heading": null,
  "text": "(1) Any distribution made by an investment company which reduces the amount of its net assets to less than the aggregate of its called-up share capital and undistributable reserves shall be disclosed in a note to the company’s accounts.\n(2) For purposes of this paragraph, a company’s net assets are the aggregate of its assets less the aggregate of its liabilities (including any provision for liabilities within paragraph 89 that is made in Companies Act accounts and any provision that is made in IAS accounts ); and “undistributable reserves” has the meaning given by section 264(3) of this Act.",
  "extent": "E+W+S",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 4 para. 72(2) substituted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 2 para. 9"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 4 para. 72(2) inserted (12.11.2004 with effect as mentioned in reg. 1(2) of the amending S.I.) by The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 3, Sch. 1 para. 31(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1985/6/schedule/4/paragraph/72",
    "retrieved_at": "2026-10-29T10:00:40.159612+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}