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Alteration of share capital: companies may amend memoranda to increase, consolidate, subdivide, convert or cancel shares. A limited company authorised by its articles may alter its memorandum in general meeting to increase authorised share capital; consolidate and divide share capital into larger shares subject to prescribed application and Tribunal approval; convert fully paid shares into stock and reconvert stock into shares of any denomination; subdivide shares while maintaining the paid/unpaid proportion on reduced shares; and cancel unissued or unagreed shares, diminishing share capital by the cancelled amount. Cancellation under this provision is not deemed a reduction of share capital.
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.
<h1>Alteration of share capital: companies may amend memoranda to increase, consolidate, subdivide, convert or cancel shares.</h1> A limited company authorised by its articles may alter its memorandum in general meeting to increase authorised share capital; consolidate and divide share capital into larger shares subject to prescribed application and Tribunal approval; convert fully paid shares into stock and reconvert stock into shares of any denomination; subdivide shares while maintaining the paid/unpaid proportion on reduced shares; and cancel unissued or unagreed shares, diminishing share capital by the cancelled amount. Cancellation under this provision is not deemed a reduction of share capital.
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