Under the Companies and Allied Matters Act (CAMA) 2020, which of the following reserves is a capital reserve that CANNOT be distributed to shareholders as cash dividend?

The share premium account is a statutory capital reserve under Section 120 of CAMA 2020, and its application is restricted to specific purposes such as issuing bonus shares, writing off preliminary expenses, or providing for the premium on redemption of debentures. It cannot be distributed as a cash dividend. Retained earnings and voluntary reserves such as general reserves and dividend equalisation reserves are revenue reserves available for distribution.