Search
The Laws of Fiji
Last Updated: 24 June 2022

[COM 738] Use of amount standing to credit of share premium account738 

738
An existing company may only use the amount standing to the credit of its share premium account immediately before the commencement date to—
  • (a)provide for the premium payable on redemption of debentures or redeemable preference shares issued before the commencement date; or
  • (b)write off—
    • (i)the preliminary expenses of the existing company incurred before the commencement date; or
    • (ii)expenses incurred, payments made, or discounts allowed, on or before the commencement date, in respect of any issue of shares in, or debentures of, the existing company.