Section 181 Definitions for Chapter VII.
England, Wales and Scotland
In this Chapter—
“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 F1section 829 of the Companies Act 2006) equal in value to the payment, and
“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.
Annotations
Textual amendments
- F1
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)
Notes on Chapter VII
Textual amendments
- F1
Ss. 126-182 repealed (1.10.2009) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2008/2860, art. 4, Sch. 1 (with arts. 5, 7, 8, Sch. 2 (as amended by S.I. 2009/1802,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.))