Podcast Location:
Sorry, this podcast has been removed as it is now out of date
Categories:
Company Law
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • a) £65+VAT for this CPDcast only
  • b) £299+VAT for unlimited access to all of our podcasts. details »
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Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to provide users with an understanding of the maintenance of capital provisions of the Companies Act 2006. In particular, listeners will gain an understanding of the provisions relating to reductions of capital (both self-help and through court order), the process for redenominating share capital from one currency to another, the financial assistance regime.

Outcomes:
After completing the course you will:
  • Have learnt about the self-help remedy enabling private companies to reduce their share capital without court order;
  • Understand the implications of the abolition of the prohibition on private companies providing financial assistance for the purpose of an acquisition of its own shares;
  • Have learnt how companies can redenominate their share capital under the Companies Act 2006;
  • Understand the changes introduced by the Companies Act 2006 in relation to the redemption and repurchase of shares by a company;
  • Have learnt about the statutory application of the rule in Aveling Barford Ltd v Perion Ltd (1989) 5 BCC 626;
  • Understand the context of the maintenance of capital rules of the Companies Act 2006.
Level:
Intermediate Difficulty: 3 of 5
Classification:
Introduction
Practical Guide
Procedural
Sources and References:
  • Companies Act 2006, sections 622 to 628, 641 to 653, 658 to 723;
  • Aveling Barford Ltd v Perion Ltd (1989) 5 BCC 626;
  • Brady v Brady [1988] 2 WLR 1308;
  • Re Hill & Tyler Ltd (in administration) [2004] EWHC 1261 (Ch);
  • Anglo Petroleum Ltd v TFB (Mortgages) Ltd [2007] EWCA Civ 456;
  • Trevor v Whitworth (1887) 12 App Cas 409.

In this podcast, Martin Moore Q.C. and Andrew Thornton, barristers at leading company law set Erskine Chambers, discuss the provisions of the Companies Act 2006 dealing with the issue of maintenance of capital. Martin and Andrew consider the self-help reduction of capital procedure for private companies, the process enabling companies to redenominate their share capital, the implications of the abolition of the financial assistance regime for private companies as well as summarising the changes to the rules governing redeemable shares and companies repurchasing their own shares. This podcast is suitable for all levels of users.

Podcast Added: 28/3/2008

Podcast last reviewed: 2011-03-28

This course has now been removed from the site. It is no longer suitable for CPD purposes as it contains information that is out of date or incorrect. For a list of our latest CPDcasts, please visit the library.

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