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COMPANIES CLAUSES CONSOLIDATION ACT 1845 - SECT 122

Power to directors to set apart a fund for contingencies.

122. Before apportioning the profits to be divided among the shareholders
the directors may, if they think fit, set aside thereout such sum as they may
think proper to meet contingencies, or for enlarging, repairing, or improving
the works connected with the undertaking, or any part thereof, and may divide
the balance only among the shareholders.


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© 1845 Crown Copyright

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