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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 121

Dividend not to be made so as to reduce capital.

121. The company shall not make any dividend whereby their capital stock will
be in any degree reduced: Provided always, that the word "dividend" shall not
be construed to apply to a return of any portion of the capital stock, with
the consent of all the mortgagees and bond creditors of the company, due
notice being given for that purpose at an extraordinary meeting to be convened
for that object.

© 1845 Crown Copyright

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