Section 91(5)

A company must not be re-registered as a public company if it appears to the registrar that— the company has resolved to reduce its share capital, the reduction— is made under section 626 (reduction in connection with redenomination of share capital), is supported by a solvency statement in accordance with section 643, or has been confirmed by an order of the court under section 648, and the effect of the reduction is, or will be, that the nominal value of the company's allotted share capital is below the authorised minimum.

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