Revision as of 13:24, 25 January 2014 edit DavidwinchUK (talk \| contribs) 190 edits →‎Share premium reserve account ← Previous edit		Revision as of 16:22, 25 January 2014 edit undo DavidwinchUK (talk \| contribs) 190 edits →‎Share premium reserve account Next edit →
Line 25: ===Share premium reserve account=== According to Companies Act 2006 s.610<ref>[http://www.legislation.gov.uk/ukpga/2006/46/section/610 Companies Act 2006 s610 (United Kingdom)]</ref> in the United Kingdom the share premium account may be put only to certain specified uses. ~~Similarly~~However ~~under~~UK ~~companies~~company ~~ordinance~~law ~~1984~~in this connection was significantly relaxed in 2008 by permitting the share premium account to be converted into share capital and then the share capital to be reduced (~~Nepal)~~effectively sallowing the elimination of the share premium account by a two stage process).~~84:~~<ref>[http://www.~~pcp~~legislation.~~org~~gov.pkuk/~~PDF~~uksi/~~Comp_Ord1984.pdf~~2008/1915/contents/made ~~companies~~The ~~ordinance~~Companies ~~1984~~(Reduction of Share Capital) Order 2008 (~~Nepal~~United Kingdom)]</ref> Under companies ordinance 1984 (Nepal) s.84:<ref>[http://www.pcp.org.pk/PDF/Comp_Ord1984.pdf companies ordinance 1984 (Nepal)]</ref> (1) If a company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate amount or value of the premiums on those shares shall be transferred to an account called "the share premium account".

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