Section 836(1)

Whether a distribution may be made by a company without contravening this Part is determined by reference to the following items as stated in the relevant accounts— profits, losses, assets and liabilities; provisions of the following kinds— where the relevant accounts are Companies Act accounts, provisions of a kind specified for the purposes of this subsection by regulations under section 396; where the relevant accounts are IAS accounts, provisions of any kind; share capital and reserves (including undistributable reserves).

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