Section 57
of International Business Companies Order, 2000
ORDERIn forceProvision 58 of 189
Section 57
(1)
Subject to any relevant modification, pursuant to a resolution of directors, an
IBC may declare and pay out of surplus a dividend in money, in shares or other property.
(2)
No dividend may be declared and paid unless the directors determine that, immediately after the payment of the dividend, the solvency conditions will be fulfilled.
Incorporating amendments until S 53/2017
(Clean Vesion) NANI/zimah _ as of 11 February 2020
61
BLUV as at 20th June 2017
Surplus may reflect unrealised appreciation.