Section 682(1)

Neither section 678 nor section 679 prohibits a transaction to which this section applies— if the company giving the assistance is a private company, or if the company giving the assistance is a public company and— the company has net assets that are not reduced by the giving of the assistance, or to the extent that those assets are so reduced, the assistance is provided out of distributable profits.

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