§
67 Clause 43, page 48, line 11, at end insert:
("(5A) Where the redeemable shares were issued at a premium, any premium payable on their redemption may be paid out of the proceeds of a fresh issue of shares made for the purposes of the redemption, up to an amount equal to—
- (a) the aggregate of the premiums received by the company on the issue of the shares redeemed; or 988
- (b) the current amount of the company's share premium account (including any sum transferred to that account in respect of premiums on the new shares);
§ Lord Mackay of ClashfernMy Lords, I beg to move that this House doth agree with the Commons in their Amendment No. 67.
§ Moved, That this House doth agree with the Commons in the said amendment.—(Lord Mackay of Clashfern.)
§ On Question, Motion agreed to.