Solvency Test definition

Solvency Test means the solvency test prescribed by section 56 of the Act and set out in Article 124;

Solvency Test means a test to determine that—

Solvency Test means the solvency test referred to in section 49 (meaning of “solvency test” and “distribution”) of the Act which the Company satisfies if it is able to pay its debts as they become due in the normal course of the Company’s business and the value of its assets exceeds the value of its liabilities;

Examples of Solvency Test in a sentence

• All distributions are subject to the Cayman Solvency Test which addresses the Company’s ability to pay debts as they fall due in the natural course of business.

• Under the Mauritius Companies Act, the Company shall not make any payment in whatever form to purchase its Shares where there are reasonable grounds for believing that the Company is, or would after the payment, be unable to satisfy the Solvency Test.

• The Mauritius Companies Act does not permit the Company to make any payment in whatever form to purchase its own Shares where there are reasonable grounds for believing that the Company is, or would after the payment, be unable to satisfy the Solvency Test.

• Subject to the provisions of the Act and to any rights for the time being attached to any shares, the Company may by Special Resolution reduce its share capital in any way provided that the Directors are satisfied, on reasonable grounds, that the Company will, immediately after such reduction, satisfy the Solvency Test.

• The 2008 Law does not require share premium to be held in a separate account and any premium at which shares are issued can be used for all purposes, including the buy back of Shares and the payment of dividends, provided that the Company would after any distribution still meet the statutory Solvency Test as such is defined in the 2008 Law.

More Definitions of Solvency Test

Solvency Test means an examination to be applied to the financial state of the Company, which will be satisfied if:

Solvency Test means the solvency test prescribed by section 56 of the Act and set out in Articles;

Solvency Test means a solvent test as specified in section 67;

Solvency Test for the purposes of this Act, means that a company shall satisfy the solvency test where the company is able to pay its debts as they become due in the normal course of business; and the value of the company's assets is greater than the sum of the value of its liabilities; and the company’s stated capital.

Solvency Test means the test specified in Regulation68;

Solvency Test means that:

Solvency Test means the solvency test in s4 of the Act, as may be modified in accordance with the Act.