Section 643 Standard Statement Of Solvency (Reducing Capital)
Publisher one
Genie AIJurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
💵 Solvency statementBusiness activity
Reduce company's capitalA solvency statement is a legal document that provides information about a company's financial health and its ability to repay its debts. The statement is used by creditors and potential investors to assess a company's risk. It is important to note that a solvency statement is not a guarantee of a company's financial stability.
The template assists companies in preparing a statement of solvency, which is a crucial document confirming that the company's assets exceed its liabilities after the proposed reduction of share capital. The statement of solvency must be signed by the company's directors and include relevant financial information, supporting the company's ability to meet its existing and future obligations post-reduction.
By using this legal template, companies can effectively navigate the legal procedures involved in reducing capital, safeguarding the interests of stakeholders and ensuring compliance with the Companies Act. It provides structure and assists in organizing the necessary information, ensuring that all required details are accurately captured within the statement of solvency.
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