Reduction of share capital confirmed; court-approved minute must be filed and published, subject to creditor consent or security. Court confirmation of a company's reduction of share capital requires satisfaction that all objecting creditors have consented, had claims discharged or determined, or been secured; upon such satisfaction the court confirms the special resolution and approves the minute, directs delivery of a certified copy to the Registrar of Companies within the prescribed period, and orders publication of the Registrar's registration of the order and minute in the Official Gazette and specified newspapers, with any imposed terms or directions recorded in the order.
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 confirmed; court-approved minute must be filed and published, subject to creditor consent or security.
Court confirmation of a company's reduction of share capital requires satisfaction that all objecting creditors have consented, had claims discharged or determined, or been secured; upon such satisfaction the court confirms the special resolution and approves the minute, directs delivery of a certified copy to the Registrar of Companies within the prescribed period, and orders publication of the Registrar's registration of the order and minute in the Official Gazette and specified newspapers, with any imposed terms or directions recorded in the order.
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