Article 4 Transitional adaptations

Section 644 of the Companies Act 2006 (reduction of capital supported by solvency statement: registration of resolution and supporting documents) has effect with the following adaptations.

In subsection (1)(b), for “a statement of capital” substitute “a memorandum complying with subsection (2)”.

For subsection (2) substitute—

“(2)

The memorandum must show with respect to the company’s share capital as reduced by the resolution—

(a)

the amount of the share capital,

(b)

the number of shares into which it is to be divided, and the amount of each share, and

(c)

the amount (if any) at the date of the registration deemed to be paid up on each share.”.