Dividends

(1) Subject to any limitations in its Memorandum or Articles, a company incorporated under this Act may, by a resolution of its directors, declare and pay dividends in money, shares or other property. (2) Dividends shall only be declared and paid out of surplus. (3) No dividend shall be declared and paid unless the directors determine that immediately after the payment of the (a) the company will be able to satisfy its liabilities as they become due in the ordinary course of its business; and (b) the realisable value of the assets of the company will not be less than the sum of its total liabilities, other than deferred taxes, as shown in the books of account, and its capital, and, in the absence of fraud, the decision of the directors as to the realisable value of the assets of the company is conclusive, unless a question of law is involved.