Section 733(3)

If— the amount of the difference must be transferred to the capital redemption reserve. the shares are redeemed or purchased wholly or partly out of the proceeds of a fresh issue, and the aggregate amount of the proceeds is less than the aggregate nominal value of the shares redeemed or purchased, This does not apply in the case of a private company if, in addition to the proceeds of the fresh issue, the company applies a payment out of capital under Chapter 5 or under section 692(1ZA) in making the redemption or purchase.

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