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of <h1>Judge's Directions on Share Capital Reduction Under Rule 48 of Company Court Rules 1959: Process and Creditor Rights</h1> Rule 48 of the Company Court Rules, 1959, addresses the directions a judge may give at a hearing related to the reduction of a company's share capital. This applies when there is a reduction in liability for unpaid share capital or payments to shareholders. The judge can direct the procedure under section 101(2), including settling the list of creditors entitled to object, fixing the reference date for this list, publishing notices, and setting timelines for necessary steps. The order from the summons will follow Form 20, with modifications as needed.
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