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Section 622: Redenomination of share capital

Companies Act 2006 · 2006 c. 46View on legislation.gov.uk

Part 17: A company's share capital — Chapter 8: Alteration of share capital

A limited company having a share capital may by resolution redenominate its share capital or any class of its share capital.

The conversion must be made at an appropriate spot rate of exchange specified in the resolution.

A resolution under this section may specify conditions which must be met before the redenomination takes effect.

Redenomination in accordance with a resolution under this section takes effect—

on the day on which the resolution is passed, or
on such later day as may be determined in accordance with the resolution.

A resolution under this section lapses if the redenomination for which it provides has not taken effect at the end of the period of 28 days beginning on the date on which it is passed.

A company's articles may prohibit or restrict the exercise of the power conferred by this section.

Chapter 3 of Part 3 (resolutions affecting a company's constitution) applies to a resolution under this section.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.