{
  "url": "https://openlegislation.uk/companies-clauses-consolidation-act-1845/section-122",
  "json_url": "https://openlegislation.uk/companies-clauses-consolidation-act-1845/section-122.json",
  "legislation": "ukpga/Vict/8-9/16",
  "legislation_title": "Companies Clauses Consolidation Act 1845",
  "legislation_url": "https://openlegislation.uk/companies-clauses-consolidation-act-1845",
  "path": "section/122",
  "kind": "section",
  "number": "122",
  "heading": "Power to directors to set apart a fund for contingencies.",
  "text": "Before apportioning the profits to be divided among the shareholders the directors may, if they think fit, set aside thereout such sum as they may think proper to meet contingencies, or for enlarging, repairing, or improving the works connected with the undertaking, or any part thereof, and may divide the balance only among the shareholders.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 122 repealed (E.W.) in relation to water companies by Water Act 1945 (c. 42), Sch. 5"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/Vict/8-9/16/section/122",
    "retrieved_at": "2026-10-29T13:34:21.564980+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."
}