Notice requirement for alteration of share capital requires filing with Registrar; failure attracts penalties and daily fines. Companies must file a notice in the prescribed form with the Registrar, together with an altered memorandum, within thirty days of any alteration of share ... Summary
Notice requirement for alteration of share capital requires filing with Registrar; failure attracts penalties and daily fines.
Companies must file a notice in the prescribed form with the Registrar, together with an altered memorandum, within thirty days of any alteration of share capital, any increase in authorised capital resulting from a governmental order, or redemption of redeemable preference shares. Non-compliance by the company or any officer in default triggers penalties comprising a daily fine for each day the default continues up to a statutory maximum.
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