656. Payment to be approved by special resolution
Past version: effective from 14/06/2015 - 13/06/2015
To view other versions open the versions tab on the right
(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 654.
(3) A resolution under this section is subject to—
(a) section 657 (exercise of voting rights), and
(b) section 658 (disclosure of directors' statement).