Section 627

A company that passes a resolution under section 626 (reduction of capital in connection with redenomination) must within 15 days after the resolution is passed give notice to the registrar stating— the date of the resolution, and the date of the resolution under section 622 in connection with which it was passed. This is in addition to the copies of the resolutions themselves that are required to be delivered to the registrar under Chapter 3 of Part 3. The notice must be accompanied by a statement of capital. The statement of capital must state with respect to the company's share capital as reduced by the resolution— the total number of shares of the company, the aggregate nominal value of those shares, the aggregate amount (if any) unpaid on those shares (whether on account of their nominal value or by way of premium), and for each class of shares— prescribed particulars of the rights attached to the shares, the total number of shares of that class, and the aggregate nominal value of shares of that class, ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The registrar must register the notice and the statement on receipt. The reduction of capital is not effective until those documents are registered. The company must also deliver to the registrar, within 15 days after the resolution is passed, a statement by the directors confirming that the reduction in share capital is in accordance with section 626(4) (reduction of capital not to exceed 10% of nominal value of allotted shares immediately after reduction). If default is made in complying with this section, an offence is committed by— the company, and every officer of the company who is in default. A person guilty of an offence under this section is liable— on conviction on indictment to a fine, and on summary conviction to a fine not exceeding the statutory maximum.

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Source: legislation.gov.uk · retrieved 2026-09-04