Section 641(4)

In particular, a company may— extinguish or reduce the liability on any of its shares in respect of share capital not paid up, or either with or without extinguishing or reducing liability on any of its shares— cancel any paid-up share capital that is lost or unrepresented by available assets, or repay any paid-up share capital in excess of the company's wants.

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