# The Companies (Model Articles) Regulations 2008, Paragraph 76: Non-cash distributions

Extent: E+W+S+N.I.

(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).
(2) If the shares in respect of which such a non-cash distribution is paid are uncertificated, any shares in the company which are issued as a non-cash distribution in respect of them must be uncertificated.
(3) 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—
(a) fixing the value of any assets;
(b) paying cash to any distribution recipient on the basis of that value in order to adjust the rights of recipients; and
(c) vesting any assets in trustees.

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Source: https://www.legislation.gov.uk/uksi/2008/3229/schedule/3/paragraph/76 (the official version)
Page: https://openlegislation.uk/companies-model-articles-regulations-2008/schedule-3/paragraph-76
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.