| 单词 | share premium account |
| 释义 | share premium account The account to which the premium must be credited for shares issued at a premium. The balance on the share premium account may be used for specified purposes: ● the issue of bonus shares; ● the writing-off of preliminary expenses; ● the writing-off of underwriting commissions; ● the provision of a premium to be paid on the redemption of debentures; ● the provision of a premium to be paid on the redemption or purchase of share capital, subject to certain limits. The share premium account may not be used to write off goodwill on consolidation. Relief from the creation of a share premium account is given in section 131 of the Companies Act; this is known as merger relief and is available in specified circumstances. |
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