In this Part (except in Chapter 2 (financial assistance): see section 683) "distributable profits", in relation to the making of any payment by a company, means profits out of which the company could lawfully make a distribution (within the meaning given by section 830) equal in value to the payment.
Section 736: Meaning of "distributable profits"
Companies Act 2006 · 2006 c. 46View on legislation.gov.uk
Part 18: Acquisition by limited company of its own shares — Chapter 7: Supplementary provisions
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