{
  "url": "https://openlegislation.uk/companies-model-articles-regulations-2008/schedule-1/paragraph-34",
  "json_url": "https://openlegislation.uk/companies-model-articles-regulations-2008/schedule-1/paragraph-34.json",
  "legislation": "uksi/2008/3229",
  "legislation_title": "The Companies (Model Articles) Regulations 2008",
  "legislation_url": "https://openlegislation.uk/companies-model-articles-regulations-2008",
  "path": "schedule/1/paragraph/34",
  "kind": "paragraph",
  "number": "34",
  "heading": "Non-cash distributions",
  "text": "(1) Subject to the terms of issue of the share in question, the company may, by ordinary resolution on the recommendation of the directors, decide to pay all or part of a dividend or other distribution payable in respect of a share by transferring non-cash assets of equivalent value (including, without limitation, shares or other securities in any company).\n(2) For the purposes of paying a non-cash distribution, the directors may make whatever arrangements they think fit, including, where any difficulty arises regarding the distribution—\n(a) fixing the value of any assets;\n(b) paying cash to any distribution recipient on the basis of that value in order to adjust the rights of recipients; and\n(c) vesting any assets in trustees.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 1 art. 34 in force at 1.10.2009, see reg. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2008/3229/schedule/1/paragraph/34",
    "retrieved_at": "2026-10-29T03:20:04.243060+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."
}