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Share Premiums- Mind How You Keep And Use Them.

Publication: Mondaq Business Briefing
Publication Date: 26-JUN-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Under Old Law

The old Companies Act had no provisions on share premium.

It was perfectly legal for companies established in Tanzania before the entry of the new Companies Act to credit share premium to profit and loss accounts so as to make them available for paying dividends.

The New Law

Under the new Companies Act that is prohibited. With the entry into force of the new Companies Act No 12 of 2002 (the Act), share premium is to be...

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