Companies (Accounting) Act 2017

Amendment of section 72 of Principal Act

7. Section 72 of the Principal Act is amended by the substitution of the following subsection for subsection (7):

“(7) In relation to a company and its shares and capital, the following definitions apply for the purposes of this section:

‘arrangement’ means any agreement, scheme or arrangement (including an arrangement sanctioned under section 453 or 601);

‘company’, other than in relation to the issuing company, includes any body corporate;

‘equity share capital’ means the company’s issued share capital excluding any part of it which, neither as respects dividends nor as respects capital, carries any right to participate beyond a specified amount in a distribution;

‘equity shares’ means shares comprised in the company’s equity share capital;

‘non-equity shares’ means shares (of any class) not comprised in the company’s equity share capital.”.