Commentary Part 17: a Company’s Share Capital Chapter 8: Alteration of Share Capital Section 621: Notice to registrar of reconversion of stock into shares
902.Where a company re-converts stock into shares it must give notice of the alteration to its share capital to the registrar under the provisions in section 621. This requirement replaces a similar provision in section 122(1)(c) of the 1985 Act.
903.A statement of capital is required (see note on section 619).
904.Criminal liability for any failure to comply with the procedural requirements as to notice is retained (see subsection (4)). The penalty for this offence is set out in subsection (5).