New Clause 220

Company Law Reform Bill [Lords] – in a Public Bill Committee at 1:45 pm on 20th July 2006.

Alert me about debates like this

Payment to be approved by special resolution

‘(1) The payment out of capital must be approved by a special resolution of the company.

(2) The resolution must be passed on, or within the week immediately following, the date on which the directors make the statement required by section (Directors’ statement and auditor’s report).

(3) A resolution under this section is subject to—

section (Resolution authorising payment: exercise of voting rights) (exercise of voting rights), and

Section (Resolution authorising payment: disclosure of directors’ statement and auditor’s report) (disclosure  of directors’ statement and auditors’ report).’.—[Margaret Hodge.]

Brought up, and added to the Bill.