Reduction of share capital requires a special resolution, approved minute and procedures safeguarding creditors' objection rights. Petition requests confirmation of a company's reduction of share capital effected by a special resolution under the company's articles, stating the company's registration, capital structure, share classes, and whether unpaid capital liability is diminished or paid-up capital returned; it seeks approval of the minute proposed for registration and asks for necessary inquiries and directions to protect creditors and other interested classes before confirmation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reduction of share capital requires a special resolution, approved minute and procedures safeguarding creditors' objection rights.
Petition requests confirmation of a company's reduction of share capital effected by a special resolution under the company's articles, stating the company's registration, capital structure, share classes, and whether unpaid capital liability is diminished or paid-up capital returned; it seeks approval of the minute proposed for registration and asks for necessary inquiries and directions to protect creditors and other interested classes before confirmation.
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