{
  "url": "https://openlegislation.uk/companies-model-articles-regulations-2008/schedule-3/paragraph-73",
  "json_url": "https://openlegislation.uk/companies-model-articles-regulations-2008/schedule-3/paragraph-73.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/3/paragraph/73",
  "kind": "paragraph",
  "number": "73",
  "heading": "Deductions from distributions in respect of sums owed to the company",
  "text": "(1) If—\n(a) a share is subject to the company’s lien, and\n(b) the directors are entitled to issue a lien enforcement notice in respect of it,\nthey may, instead of issuing a lien enforcement notice, deduct from any dividend or other sum payable in respect of the share any sum of money which is payable to the company in respect of that share to the extent that they are entitled to require payment under a lien enforcement notice.\n(2) Money so deducted must be used to pay any of the sums payable in respect of that share.\n(3) The company must notify the distribution recipient in writing of—\n(a) the fact and amount of any such deduction;\n(b) any non-payment of a dividend or other sum payable in respect of a share resulting from any such deduction; and\n(c) how the money deducted has been applied.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 3 art. 73 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/3/paragraph/73",
    "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."
}